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Updated 9 months ago on . Most recent reply

Dewey Golub's profile image
Dewey Golub's profile image
Dewey Golub
  • from Charleston, South Carolina
  • Member since Nov 19, 2017
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Dewey Golub's profile image
Dewey Golub's profile image
Dewey Golub
  • from Charleston, South Carolina
  • Member since Nov 19, 2017
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Dewey Golub
  • Charleston, SC
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Land & New Construction

Lender for new construction spec - residential

Dewey Golub
  • 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
    • Charleston, South Carolina
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    Jacob Sherman's profile image
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    Jacob Sherman
    • from 12 Penns Trail Suite 138 Newtown, PA 18940
    • Member since Nov 26, 2023
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    Jacob Sherman's profile image
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    Jacob Sherman
    • from 12 Penns Trail Suite 138 Newtown, PA 18940
    • Member since Nov 26, 2023
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    Jacob Sherman
    • 12 Penns Trail Suite 138 Newtown, PA 18940
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    Jacob Sherman
    • 12 Penns Trail Suite 138 Newtown, PA 18940
    Replied

    Yes this would be something for us . We are a direct lender . 50% of the land covering 100% of the construction . Its a limited doc program 

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