Working on a one-time close right now and my broker told me that if I dont like the construction bank that we are able to change.
I have 100k in land equity according to March 2019 appraisal (owned land for 11 years.) the construction lender has decided that equity cannot be used ... two weeks ago she was speaking differently.
So now I am being required to put up an equivallent of 31% rather than 20% as a downpayment and this upsets me.
Anyone construction lenders want to talk? I already have half the deal done...and now I need quick help.
evestor1@gmail.com
I have 100k in land equity according to March 2019 appraisal (owned land for 11 years.) the construction lender has decided that equity cannot be used ... two weeks ago she was speaking differently.
So now I am being required to put up an equivallent of 31% rather than 20% as a downpayment and this upsets me.
Anyone construction lenders want to talk? I already have half the deal done...and now I need quick help.
evestor1@gmail.com