Let us know if you still need help with this. We are working on a 1.8 million dollar construction loan right now. You are right! Many large banks are pulling out of the construction market. I would recommend working with a mortgage broker so they can assist you to find the best deal! The loan I mentioned before is a client who had their loan placed at several large banks and each time they got an approval the banks closed down their construction division. Our clients have wasted months working one on one with the individual banks.
Let us know if you need help!
There is a wonderful construction loan specialist right there in Sacramento. His name is Howard Nordberg and he is with Wells Fargo. He came highly recommended to me, and so I will pass that on to you. Please contact me through my profile for his complete contact information, if you are interested, and Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty