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New Construction Guidance
Hi guys, I’m trying to get into a new construction build and this would be my first one. I have a land I’m looking to build on and I’m working towards acquiring it with this lender I have found.
Lender rates:
3 points
4.99% interest every month(12th of that which I will owe)
Interest increases by .5% every month
This is a 12 month loan
They cover 75% of land cost and 100% construction cost.
So this is what I have so far. If you have anything you’d like me to look out for or steer clear off please let me know. Any advice is welcome, thank you!