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08-09-2023, 03:24 PM #1Member
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- Feb 2023
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Looking For A Construction Loan
I have a client looking for a Non-QM option for new construction. Looking to build himself a second home in Massachusets.
Anyone that can help with this?
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08-09-2023, 05:20 PM #2Senior Member
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- Sep 2021
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- Irvine, CA
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Yeah....reach out....have a few guys....some lenders won't do second home construction as investment property. So you have to be careful with that.
DSCR, NoDoc, SISA, Just have to look at the specs and see.
Land purchase is usually 50% LTV
Construction can be 75% Loan to Cost and higher
Also is it rural? That's an issue too.Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
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