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Updated over 5 years ago on . Most recent reply

Jason Boritz's profile image
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Jason Boritz
  • Developer
  • from Los Angeles, CA
  • Member since Mar 25, 2019
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Jason Boritz's profile image
Jason Boritz's profile image
Jason Boritz
  • Developer
  • from Los Angeles, CA
  • Member since Mar 25, 2019
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Jason Boritz
  • Developer
  • Los Angeles, CA
21
Votes |
76
Posts
Land & New Construction

Tiny home development

Jason Boritz
  • Developer
  • Los Angeles, CA
Posted

Hi everyone,

I am in the process of starting a tiny house development and had some questions about a construction loan for it.

A lender I inquired with said that there is a 150k minimum appraisal to get a loan. These tiny houses, max will sell for 100k.

Does anybody know lenders out there with more leighway with lower minimum appraisal values?

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Jermaine Chad Ingram's profile image
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Jermaine Chad Ingram
  • Real Estate Agent
  • from Fort Pierce, FL
  • Member since Sep 21, 2019
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Jermaine Chad Ingram's profile image
Jermaine Chad Ingram's profile image
Jermaine Chad Ingram
  • Real Estate Agent
  • from Fort Pierce, FL
  • Member since Sep 21, 2019
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Jermaine Chad Ingram
  • Real Estate Agent
  • Fort Pierce, FL
104
Votes |
257
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Jermaine Chad Ingram
  • Real Estate Agent
  • Fort Pierce, FL
Replied

@Jason Boritz could you not get a commercial loan to cover the entire development as opposed to trying to get a loan on a single house, one at a time time

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