Construction Loan Financing Texas. Need help. I have a client 700 credit score high income wanting to build

Asked by Kuleen, Houston, TX Wed Aug 13, 2008

a primary residence. He owns the land out right, which is worth 350K. The construction cost is 1.8 million and he can put 400K down. Looking to borrow 1.4 million. Any suggestions? I have not done a construction loan in years so I am out of the loop. The previous banker I worked for could do these loans however they are no longer around.

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Kuleen, , Houston, TX
Wed Aug 13, 2008
Looking to broker so that I can make some money on the deal.
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Mortgage Guy, , Bellevue, WA
Wed Aug 13, 2008
Are you looking for a lender to which you would like to broker this construction loan? Or, are you looking to hand this off to an LO who works for a bank that can do construction loans? How do you want to handle this transaction?

I could possibly help, but I work on the retail side; therefore, you would not be able to broker it to us. Please let me know.
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