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Jumbo Construction to perm at 90% LTV?

Profile picture for JS74
Hi all, I'm looking to buy a new house with 10 pct down on a ~$2mm property and I'm willing to be pretty creative to make it work. Any suggestions for lenders in the DC metro area (or elsewhere) who have a realistic shot of helping me fund this house? Thanks in advance.
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May 21 2011 - Mc Lean
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Answers (4)

Profile picture for Eric Hopkins

Ask your lender if you could cross collateralize another property to make the required down payment, now that 20% is the normal required down payment on construction loans. Just and idea if you currently own a property with equity.

Eric

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April 29
Profile picture for Brent Kluge FHA 203K
I have some ideas for you... please reach out to me through my profile.

b
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May 24 2011
Profile picture for GreatRateFolks
hi JS74....
I am afraid, as you must already know, you are a few years too late in finding this type of financing. I do have two lenders that will allow up to 90% financing once the house has a certificate of occupancy, but I know of no construction to perm program that can help you now...Sorry.
Jim
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May 22 2011
Profile picture for ProfessorBaron
JS74 - If you can find financing for that I will be quite impressed! Good luck!
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May 21 2011
 

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