Construction Perm
Does anyone have an idea where to get construction perm financing for a non-owner occupied property?
Does anyone have an idea where to get construction perm financing for a non-owner occupied property?
Many banks do this.. Try http://www.indybank.com
This is not a regular C/P loan. This is for a non-owner occupied/investment property and a bit more challenging to find....IndyMac has good C/P loans and even Spec Loans but I need a loan for an individual who wants to hire a builder, build the house and then sell the home...
Like I said, a lot of banks do that. I know Indymac does it, but they require a big chunk down, as I actually spoke to a representative from the bank. I did the exact same thing with another bank, only it ended up that the bank I used was a small, local bank, and I got a killer deal on it.
Tpritts - what you might want to do is to contact a few mortage brokers in your area to see what they have available. Solutions exist and they should be able to help.