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Updated almost 4 years ago on . Most recent reply
How do I secure residential loan for lots under contract?
Hello!
I have 4 residential lots under contract in gated community in SW FL with 2-3 weeks to close and need advice on how to secure a loan for land or land/construction. Will build spec or custom homes to sell. Advice will be kindly appreciated.
Anna
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Stephanie P.
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Stephanie P.
#4 Mortgage Brokers & Lenders Contributor
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#4 Mortgage Brokers & Lenders Contributor
- Washington, DC Mortgage Lender/Broker
Either use a local bank or credit union for the lot purchases or sell the lot as part of the construction package and get the buyers to pay for the lot through their construction to perm financing.