What bank/lender deals with Construction to permanent residential loans?
I am looking for a lender/investor who offers construction to permanent loans for a residential property. Loan amount is $350,000
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- Most major lenders do this. Try BofA, Wells Fargo, your own bank, State Farm Bank...open the phone book.
- your local bank will do the construction and when you get the C.O. then any lender will do that or the bank may just flip it for you to a perm.
- You should call your local mortgage broker,tell this person that you want a construction loan that flips to a conventional loan upon completion of the construction. He will find a lender that will do this for you. Most banks are too conservative to do this type loan even though they might purchase the loan once it is seasoned and long after the construction has been completed. I hope this has been of some use to you, good luck. "FIGHT ON"
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