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Building a Home

Construction Loan

6 years ago

Have a permanent mortgage loan FULL APPROVAL of 1.33 million but can't find a bank in Oklahoma to do a construction loan. Suggestions??

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Comments (5)

D B
6 years ago
Leave Oklahoma?

What reason for denial of the construction loan are they giving?
just_janni
6 years ago
what LTV are you looking for on your construction?
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rayb1
6 years ago
Simmons bank?
PRO
Charles Ross Homes
6 years ago
Ask your GC if they are able to finance the project until completion at which time you purchase the home. You'll probably need to make a substantial non-refundable deposit and the financing cost will get passed on to you, but it may be the only route to get the project done.

Best wishes for a successful outcome.
a1eventing
6 years ago
The general contractor you plan to work with should be able to share a list of banks their other customers have used. Why not start there?

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