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LOOKING FOR A CONSTRUCTION LOAN TO BUILD A MULTI-UNIT COMPLEX

by bdbrown766 from Converse, Louisiana. Oct 22nd 2020 Reply


Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

You really didn't provide much. Are you referring to a duplex or a 500-unit apartment complex? They are both multi-unit projects. If you are looking at a duplex, tri-plex or 4-plex, connect with a Mortgage Broker licensed in your state. There are construction loan programs that can assist in the financing. Generally, you will be required to employ a licensed General contractor that is NOT a relative to oversee the work of the sub-contractors. Generally the lenders of these products do not allow the work to be done by the borrower, even if they are a licensed General contractor. If you are looking for a larger project, look to your local Community bank. Most banks have some form of Construction financing. Anticipate needing 20% or more of your own funds to put into the project. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.

Oct 22nd 2020
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