Need Lot & New Construction Loan

[Llena Caldwell]

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. 

[Stephanie P.]

@Llena Caldwell

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.