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Updated about 17 years ago,
Hard Money for new builder
My regualr banks are making it so i can only build a few homes at a time with the lending market in the toilet. Once friendly banks are getting tight with the $$$.
Not very familiar with hard money loans. Is it feasible to use a hard money lender as a new home builder? What type LTV are they looking for, typical fees, credit requirements etc.
If it is possible, can anyone give me an example on a $500k loan over a 9 month period with equal draws each month for construction.