I’m looking for a lender to help with a ground-up construction project. The client plans to live in it as a primary home, but many lenders consider these as investment properties. Any ideas?
Check out American Financial Resources.
Quirin said:
Check out American Financial Resources.
AFR only handles site-built for government loans. The only conventional ground-up construction they offer is for manufactured homes. Not sure why, but they’ve stopped conventional site-built construction for a while.
UWM and Flagstar both offer construction programs.
Keaton said:
UWM and Flagstar both offer construction programs.
I think Flagstar dropped that when they sold most of their mortgage business to Mr. Cooper.
Keaton said:
UWM and Flagstar both offer construction programs.
I think Flagstar dropped that when they sold most of their mortgage business to Mr. Cooper.
Good to know, thanks!
Keaton said:
UWM and Flagstar both offer construction programs.
I think Flagstar dropped that when they sold most of their mortgage business to Mr. Cooper.
That’s correct. Flagstar no longer offers ground-up construction options.
Only options I know from the broker side are UWM or going with hard money lenders.
Message me, we offer a ground-up program for owner-occupied properties.
Depends on the state. I can help with this for all states except four!
Dru said:
Depends on the state. I can help with this for all states except four!
I’m in Virginia.
Great, we can definitely help with Virginia!
What state are you in?