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Updated almost 7 years ago,
Construction Loan for a Condo?
I am planning to construct an ADU on a lot that I co-own outright, and originally intended to apply a condo regime to it. But I am not able to find any lenders that accept applications for construction loans on condos.
1) Are there any lenders out there that finance personal loans of this type? I've checked with local credit unions as well as bigger banks.
2) Would I be wiser to apply for the loan to construct an ADU and then, at some point, apply a condo regime?
Thanks!