Financing in Springfield>Question Details

Jodespard, Home Buyer in Springfield, MA

I am looking for an experienced residential construction loan broker in Massachusetts. Any recommendations?

Asked by Jodespard, Springfield, MA Sat Mar 3, 2012

Help the community by answering this question:

Answers

13
BEST ANSWER
The reality is the exact opposite. Personally I would want to work with the lender that was going to handle the disbursement of the construction funds. Few if any brokers even have access to construction financing. I suggest reaching out to Mark Butler at Salem Five for a true construction loan.
0 votes Thank Flag Link Sat Mar 3, 2012
I have personally worked with Mark Butler in the past, my husband is a builder he has worked with several banks for construction loans Salem Five is the best for this!
1 vote Thank Flag Link Sun Mar 4, 2012
Adam, property owner,



I own a 5 acre free & clear residential lot in the Washington Dc. metro area and looking to get a no doc. construction loan, is this possible and does anyone have any point of contact?
0 votes Thank Flag Link Fri Sep 6, 2013
I sent an email to Mark at Salem Five last evening, and will also check the local banks' offerings next week.

Thanks again to both of you!!!
0 votes Thank Flag Link Sun Mar 4, 2012
I would check out additional sources as Louis suggested. I used to work for Salem Five and they would be the first lender I would call if I were looking for a truie contruction loan...They would not be the only call I made.

Good luck with the project.
0 votes Thank Flag Link Sat Mar 3, 2012
You may want to look at local savings banks such as Florence Savings, Easthampton Savings, Northampton Co-op not sure if Salem Five goes out there. But nothing ventured nothing gained. Good luck
0 votes Thank Flag Link Sat Mar 3, 2012
We are looking for land (1 acre +) in Northampton, Southampton, Easthampton, South Hadley or Granby, MA.

I will contact Mark Butler at Salem Five.

Thank you Andrew and Louis for giving me advice, and a specific direction to follow.

Warm regards,
Joanne
0 votes Thank Flag Link Sat Mar 3, 2012
Jodespard


What communities are you thinking about, that will have a lot to do with the lenders that may have an interest.

I agree with Andrew as to Salem Five as I am presently involved as a builder where they are the lender for the end user. But again it will depend on the area you are considering.
0 votes Thank Flag Link Sat Mar 3, 2012
We are looking for a new construction loan -- it will be owner occupied. Sorry, I should have provided that information up front. Anyway, we have house plans, and my husband is in the trades so we have a a builder lined up as well. Just looking for the right property and the financial commitment.

Andrew: We have a real estate agent. I read online that we should find an experienced residential construction loan broker who has access to banks nationwide so we could get the best rate, one-time close, etc. The article said many local banks do not offer such attractive choices.
0 votes Thank Flag Link Sat Mar 3, 2012
He just chimed in. You should speak to Andrew Adams.
0 votes Thank Flag Link Sat Mar 3, 2012
What are you trying to accomplish? Rehab? New Construction? Sub division?

The direction you go will depend on many factors including your financiability, whether you or someone else is doing the work, the loan to value, location and competition within the market your project is in, whether its spec or owner occupied to name a few.
0 votes Thank Flag Link Sat Mar 3, 2012
looking for financing for 20 plus lot subdivision in hot market area north of boston. propert has no mortgages and recent appraisal with approvals is over $2 mil
Flag Wed May 7, 2014
Are you looking for a real Estate agent or a Loan officer?
0 votes Thank Flag Link Sat Mar 3, 2012
I'd be happy to assist you. Call me so we can further discuss your needs.

Carrie Touchette Polci
413-248-7653
0 votes Thank Flag Link Sat Mar 3, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer