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    2 Replies Latest reply on Jul 22, 2008 7:20 PM by home4u

    Searching for "HARD MONEY" construction loan

    home4u Newbie
      i am looking for money to complete some sfr's located in Hilo Hawaii. we are looking for 65% of the completed value with a 9 month term.
        • Re: Searching for "HARD MONEY" construction loan
          LUCKIEST Guide
          Searching for "HARD MONEY" construction loan, Welcome

          Please define "HARD MONEY"?? Who are you??

          Have you developed a Business and Marketing plan I can read??

          Talk to me, LUCKIEST
            • Re: Searching for "HARD MONEY" construction loan
              home4u Newbie

              sorry about that....My name is jeffrey. I purchased some land in hilo hawaii and am looking to develop some affordable housing. i currently have plans and county permits approved and am ready to build. i do not have the financing yet. i am looking for a contruction loan that will cover 65% of the completed value which is $220000. we will have a performance bond on the property as soon as financing is lined up. a performance bond will guarantee the completion of the dwelling. the proceeds of the loan will be distbursed to the supply house and will onlly be disbursed to the contractor after a inspection is completed and the work is confimed to be done.

              bottom line is
              i need a loan for $143000
              9 month term
              12% interest
              6 points
              secured by first lien posistion

              appraised value after completion $220000
              vacant land value $50000