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Updated over 7 years ago,

User Stats

41
Posts
30
Votes
Fyzl Atmar
  • Lender
  • San Diego, CA
30
Votes |
41
Posts

Ocean Shores, WA - Stick Build Construction Lender Needed

Fyzl Atmar
  • Lender
  • San Diego, CA
Posted

I have a veteran client who unfortunately can't use their VA entitlement due to having a judgement on his Credit Report. The judgement is since he co-signed on his daughters student loans which she defaulted on. In a nutshell he is looking to finance a construction in Ocean Shores, Washington. He has around 50k to put down, the cost of the lot is 9k and he found a local developer that has developed the majority of the properties in the area for a cost of around 150k. The comps for after construction range from 200k-220k for the area. Since he can't go the conforming loan route we are looking into hard money. Looking for a lender that is willing to lend for the construction with a construction to perm loan on a fixed 30yr term. Or something of the like. Any help would be greatly appreciated!

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