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Does anyone have recommendations for a single closing construction loan?

Looking to add an extensive addition to my house.  Need to find a lender that does single close construction loans.  Any recommendations?
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January 25 2010 - Downers Grove
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Answers (8)

Downers Grove is in Du Page county.  The limits for all FHA loans amounts in Du Page county (including 203K's) are as follows:

1 unit: $410,000
2-unit: $524,850
3-unit: $634,450
4-unit: $788,450

If you have any other 203K questions, you can email me at kkramer@ardain.com

Hope this helps,

Ken
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September 07 2010
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Looking for a total loan of $650K
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January 25 2010
Best bet is to contact a 203k expert in your area.  Just make sure they specialize in this type of financing.

Good Luck.
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January 25 2010
203-k  What is size of loan and cost of repairs?
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January 25 2010
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Yes, Owner occupied

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January 25 2010
jrizzy

Aren't 203k loans limited to size?  I have to admit I don't not do them, nor do I know much about them except I thought the loan amounts were very low.

Correct me if I am wrong.
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January 25 2010
OWNER OCCUPIED?

203k. 3.5%, 729,000 SFR. MONEY TO PURCHASE AND REHAB, REFI OK
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January 25 2010
Most of those programs have bit the dust so to speak.

Construction loans these days regardless of one time close or not are difficult to find other than Hard Money Lenders.

If I am incorrect, I am sure someone from the forum will speak up.

Good Luck.
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January 25 2010
 
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