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New Construction - Financing ?s

 
fungrl
(@fungrl)
Advanced Member

Looking for lenders on STX that handle new residential construction financing... Recommendations? Trying to figure out financing options...

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Topic starter Posted : April 19, 2006 3:13 am
Jules
(@Jules)
Trusted Member

There are only a few banks that do construction loans. I spoke with them and plan to go with FirstBank when the time comes.

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Posted : April 21, 2006 2:11 am
Island Ed
(@Island_Ed)
Advanced Member

First Bank and Scotia Bank are two that do construction financing. There may be a community bank also. Talk to all and compare programs and rates. A friend just went with First Bank in STT as Scotia just took too long to give her attention.

When you are near completion, you may find that they do not have the most competitive end loans. You do not have to use them for the end loan, you can shop again for the best program with other lenders. I can help you at that time.

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Posted : April 21, 2006 11:48 am
fungrl
(@fungrl)
Advanced Member

Thanks for the info Island Ed!

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Topic starter Posted : April 21, 2006 2:45 pm
Jim Dandy
(@jim_dandy)
Trusted Member

Bank of St Croix finances new construction and land purchases.

Rates and terms reasonable for VI.

Jim

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Posted : April 21, 2006 9:14 pm
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