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re: Construction Loans and being your own general contractor?
Posted on 7/21/13 at 2:07 am to vettegc
Posted on 7/21/13 at 2:07 am to vettegc
Small town banks may be your best bet. I am building a house right now and am the contractor. No real issues so far. The bank we are using is real easy to deal with. Just call and tell them how much I wrote the check for and it's done. We owned the land free and clear. We also had approx 1/3 of the total in cash upfront. It's been a pretty straightforward process so far.
Posted on 7/21/13 at 7:16 am to pdubya76
I know the bigger banks like BBVA will not loan you money due to the risk that you aren't a licensed contractor. I went to a local smaller bank and didn't have a problem getting my construction loan.
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