Private Lending & Conventional Mortgage Advice
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 about 1 year ago,
Looking for a short-term construction loan ASAP
I'm in the construction process with 3 houses in Cape Coral, FL. I have a hard-money loan that is coming due Feb 1 and I'll be charged 1% of the total loan balance to re-up it for another 6 months. I've been paying through the nose for interest-only payments on the construction loans and it's painful to have to pay an additional 1% when we're this close to the end. The houses are within about a month of completion and I'm looking to see if there's a cheaper option out there that I could jump to for the remainder of the build process and until the houses are sold. (We plan to 1031 them.) The loan amount is about $750K total between the 3 houses.