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Updated 15 days ago on . Most recent reply

Brian Bailey's profile image
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Brian Bailey
  • from Dallas, TX
  • Member since Dec 3, 2024
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Brian Bailey
  • from Dallas, TX
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Brian Bailey
  • Dallas, TX
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Leverage on Spec Build with no PG?

Brian Bailey
  • Dallas, TX
Posted

Looking for and welcome referrals of lenders that will do Non-PG land/construction and/or construction loans.  Curious what terms, if any, any of you are seeing without the PG.

Dallas, Texas
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Mike H.'s profile image
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Mike H.
  • Rental Property Investor
  • from Manteno, IL
  • Member since Jun 12, 2009
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Mike H.'s profile image
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Mike H.
  • Rental Property Investor
  • from Manteno, IL
  • Member since Jun 12, 2009
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Mike H.
  • Rental Property Investor
  • Manteno, IL
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Mike H.
  • Rental Property Investor
  • Manteno, IL
Replied

Why would you need non-PG on your construction loans? The lenders I use for new construction all have PG requirements and their rates aren't cheap (i.e. 10 to 12% even).  Without a PG, I'm guessing your rates are going to be higher unless you find that unicorn of a lender.

But why would you not be willing to give a PG? 

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