My 2021 goals (beyond expansion) are to tighten up the screening/application process, review and decide on the Sect. 8 question, and do quite a bit of refinancing (who can pass up these interest rates???).

Many, if not most local banks have tightened down on cash-out refinances (and are rather wanting to stick to cost-basis refinances, which is no bueno for us chilling BRRRR folks) The banks worth a call right now would likely be First National, Quail Creek, and First Security (a bit slower, but fairly aggressive with lending terms).Be well

I've searched the forums, but since credit is tightening I wanted to learn how you would finance this project today.

During these Covid times many Private/Hard Money Lenders have tightened their underwriting standards but if your loan request is in the 65% LTARV range you should have some interest from Lenders. 

@Scott Wolf Jumping over to our local Casino almost has as much odds of success as local Development success given the strains on cost of construction in North Bay. 

@Freddy Morgan A lot of small depository institutions have tightened up their risk profile quite a bit in the wake of Covid. 

Commercial, portfolio/blanket and HML will not be your friend if credit tightens. 

It’s true that at the same time, housing credit has tightened, but for those in the market, purchasing power has gone up from savings and higher incomes.And to finish of the demand side of the story, there are macroeconomic effects in play, namely slashed interest rates.

It’s true that at the same time, housing credit has tightened, but for those in the market, purchasing power has gone up from savings and higher incomes.And to finish of the demand side of the story, there are macroeconomic effects in play, namely slashed interest rates.

But yes, it took a long time for me to put this post together, and even still, I see a few areas I’d like to tighten.