Land & New Construction
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 5 months ago,
Construction loan/investment friendly lenders
How difficult would it be to get an invester friendly construction loan to build on a property where I live and have mortgage. I purchased a home three months ago that came with 3 households and plenty of land to build on for 288. I put twenty percent down at time of purchase as well. With that being said I'm looking for an investment friendly lender to obtain a 300k construction loan and I have about 150k in cash right now. I also know I would need to get a partial mortgage from current lender to build on the property. Is this possible since I already have a mortgage? I can easily cover 20/25% down with cash on hand. If so are there specific lender recommendations?