Good luck with the project.
I will contact Mark Butler at Salem Five.
Thank you Andrew and Louis for giving me advice, and a specific direction to follow.
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.
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.
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.