I had a potential customer of mine from the mortgage business call me today and ask me about a construction loan. Does anyone do them still? I would like to refer this out, but not sure if that is even something anyone does anymore.
This is the info I received....land is in New Jersey...North Jersey. Lot has been appraised at $250,000 and he would like a construction loan for $300,000. I would say this is a spec loan, for it is the builder who is asking for the loan.
Can anyone do such a loan and if so, contact me via email: Nance0924@gmail.com.
For all those who respond, I will forward your his name and phone number.
Thanks.
Nancy
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