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Updated almost 4 years ago on . Most recent reply

Need Lot & New Construction Loan
Hello, I’m a retired military officer who has found a great 5 acre lot just outside of San Antonio, TX. I’d like to purchase the lot and hire a general contractor to build my retirement home. I currently have a high paying civilian job and earn over $200K annually. The banks I’d normally choose will not lend for land or new construction. I have excellent credit & can pay 20% down, just need the loan. Any suggestions will be appreciated. Thank you.
Most Popular Reply

- Washington, DC Mortgage Lender/Broker
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Crescent Mortgage offers a one time close, construction to perm loan. First draw covers the lot. It's a Fannie product so we don't offer it at US Commercial. I refer these to them because they service the draws rather than farm it out.
PM for contact information.