Hi I'm looking for a lender who will provide a construction-permanent loan for a teardown in Atlanta, GA. I've heard that Brand Mortgage, Private Bank of Buckhead, Wells and SunTrust provide this. Are there others out there? by johnkr_123_224 from Atlanta, Georgia. Jan 14th 2013
If you found one lender doing a construction to permanent, you're doing good.. Yet it looks like you know of 4... How many more do you need?? Are you looking to do an investment or are you inquiring about a primary residence?? If it's primary, FHA has the 203K, where you can do a complete rehab and include all the costs into a mortgage and one closing, and just about every lender in the country will do FHA 203K's.. If you looking for an investment rehab product, then that's only available on the private money market.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
I am not able to assist as we are not currently licensed in Georgia. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
I would stay clear of Wells, unless you have a considerable amount of time before closing. Although SunTrust has changed their program, they have remained competitive. Either Brand or Private Bank, be sure to get the terms outlined specifically. One size does NOT fit all. Have you considered a 203K, depending on the loan size. Tie it with a EEM (energy efficient mortgage) program and you might be surprised what you will find. I do not do the EEM/203K, but have a direct contact to the leader in Atlanta for this program. Best of success. You can reach me at 770.880.2680 if needed.
Stay clear of Wells unless you have considerable about of time. SunTrust is fine even after their program changes. Brand & PBB are also fine, but get specific details, as one size does not fit all. Depending on loan size have you considered 203K. Tie this with an EEM (energy efficient mortgage) program and you will be surprised what you might fine. I do NOT do the EEM/203K, but have a direct contact with the leader in the Atlanta market. Call me at 770.880.2680 if you have questions. Best of success!!!
Give me a call and we can pin this down to 1 lender that can provide this with the best rates and terms. Mark 302-449-7373
I ALSO would stay clear of Wells, unless you have a considerable amount of time before closing. Either Brand or Private Bank, be sure to get the terms outlined specifically. Personally -- what I think you are looking for is a niche credit union or portfolio lender -- IE -SMALL BANKS.GOOD luck though! Andrew Alfonso
Try a local mortgage broker.
what size is your loan and rehabs? i do construction loans... yourloanpartnerforlife@live.com
You probably have found a lender by now, but First Citizens Bank in Atlanta does construction perm for 90% LTV up to $417,000 and 80% up to $1,000,000. The LTV's go down incrementally from there as the loan sizes go up. Give me a call if you are interested: Jackie McMichen 404-483-9526.
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