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Updated over 4 years ago,
Looking for a Construction loan in Oakland (Bay Area)
We have an LLC that owns 2 lots (no loans), we have approved plans and plan to starting building 2 adjacent homes this summer in the Oakland Hills, off Hwy 13. Great location, close to Montclair village, schools, freeway. We have been quoted a construction loan at 5.5% and 1 point, which is reasonable, but only 50% funding, we are looking for about 60-70% LTV (loan amount $950k per home). Any recommendations on someone who will fund in this range?
Thanks.