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Updated 8 months ago,

User Stats

10
Posts
10
Votes
Dewey Golub
Pro Member
  • Charleston, SC
10
Votes |
10
Posts

Lender for new construction spec - residential

Dewey Golub
Pro Member
  • Charleston, SC
Posted

Starting a new high-end residential spec project.  There are some good options for lenders in our market however I would love to know if there is a lender that you have used that you love.  We have a local credit union at 1% origination and 7.25% rate, plenty of good locals at a point and prime plus one, and some good local private lenders.  Does anyone have a bank that loves new construction spec, makes it easy, and has good terms?  Land is $1m, build is $1.5m and sales value is $3.5m. Thanks!

  • Dewey Golub
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