Classifieds
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Need loan: land+new single family home construction first project
I am looking for a new construction loan on land to build an 1,800 sq ft single family home in the Miami, Florida area.
We have a lot under contract with a new LLC, first time new home construction in the US.
My business partner has years of new construction experience with multiple projects: hotels, offices and others, but all outside of the US.
We are looking for land ($85,000)+construction loan total of $300,000. 10% down. Sales comps range from $415-$475k in the .5 mi area in the past year.
My credit score ranges from 750-765. I have 5 years solid W-2s. Going into real estate full time now, also am B.S.A. Eagle Scout with character references available.
We have 2 other properties we can also get under contract, but want financing.
Please contact me if you specialize in first time new construction loans, especially land+loan, or if you can recommend a credit union in Florida or Miami area, or any other new construction lender.
Due diligence with title company should be complete within 2 weeks, completed survey with lot lines and construction elevations coming this week.