Broker to source out construction loan

[Eva Herrera]

Where can I find a broker that can source out a construction loan for a spec home?

[Jason Taken]

Quote from @Eva Herrera:

Where can I find a broker that can source out a construction loan for a spec home?

 We're a direct lender if that works for ya. HMU

[Stuart Udis]

I would recommend taking the time to build construction lender relationships on your own. Construction financing is very different than financing a stabilized property which  generally comes down to rate, leverage and pre-payment penalties. As a borrower you want to know how a lender will handle the construction loan administration including draws, contingent fund releases etc.,  and you will get a better feel for this if you’re directly communicating as opposed to going through an intermediary. At the end of the day, if you’re bankable and have a good project you shouldn’t have any trouble. I’ve heard from countless people over the years who made their construction financing decisions strictly based on the term sheet terms and have had miserable experiences. I made the mistake years ago as well.  With construction, issues arise no matter your level of experience. It’s the nature of the business and working with a lender who understands this and can work with you is invaluable. If you’re struggling to find a lender, a good place to begin would be by making a list of lenders who financed projects similar to your own in the market where you operate. You can look up the mortgages which are recorded and put together a list of lenders this way. 

[Joseph Chiofalo]

Hi Eva, 

How much are you looking to borrow for this transaction?

[Robert Ellis]

Quote from @Eva Herrera:

Where can I find a broker that can source out a construction loan for a spec home?

 you don't need a broker. send me 2k I'll send you 10 lenders like they will