Need Help with a Client!!!!

[Muhammad Patel]

I have a client who wants to do additional construction on his property worth 2 million dollars. He already has a First Lien loan of 650k on the property. He is trying to build another house on the property. He has all the permits and surveys completed. Are the any loan options for him. Currently his LTV is 50%. The conventional method will not give him enough funds to do it. HELOC would only give him quarter of the amount needed.

Any advice would be appreciated. 

Thank you.

[Ray Hage]

Hi, he's going to need a construction loan (rates are higher than conventional, of course). Speak with @Ash Hegde on this. He should be able to guide you in the right direction and get the loan done for you.