Skip to content
Oakland Real Estate Forum

User Stats

51
Posts
26
Votes
Barry B.
  • Oakland, CA
26
Votes |
51
Posts

Looking for a Construction loan in Oakland (Bay Area)

Barry B.
  • Oakland, CA
Posted Mar 29 2019, 20:22

We have an LLC that owns 2 lots (no loans), we have approved plans and plan to starting building 2 adjacent homes this summer in the Oakland Hills, off Hwy 13. Great location, close to Montclair village, schools, freeway. We have been quoted a construction loan at 5.5% and 1 point, which is reasonable, but only 50% funding, we are looking for about 60-70% LTV (loan amount $950k per home). Any recommendations on someone who will fund in this range?

Thanks.

Loading replies...