can i use the equity of that property toward the down payment of a construction loan? by custom_580_573 from Alexandria, Virginia. Feb 12th 2013
Yes.. no problem.... contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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
Yes you can use up to 80% of the equity value on the land towards the 20% down on the construction costs. www.ConstructionLoanWarehouse.com - P: 888-320-7888 - Ken Burrows
Yes, you can so contact a Local Lender to help you.
Yes you can, email me the details and I can Advise you. PBotros@omegaLoans.net
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