Is it possible to obtain a construction loan to build your dream home in 2009

Yes, it is still possible to obtain a great construction loan…………. I know you’ve tried all the typical banks that used to provide construction loans. What happened to them all. Remember the banks that used to provide all the construction loans to build your dream home in America. Banks such as Indy Mac Bank, Washington Mutual Bank, Chase Bank, Flagstar Bank, Wells Fargo Bank, Bank of America, First Horizon Bank, etc, etc etc.

You would think I’m making this up but all the above banks have abandoned the American dream home loan. (the construction loan). I’ve been providing construction loans to families for over 25 years and I’ve never seen anything like it. The entire banking system is so jaded from all the sub prime lending and stated income loans  that they almost killed off the American Dream.

The types of construction loans that I’m referring to are single family residential homes that families build on their own lot. I’m not referring to the large subdivisions built by builders. The reason I’m distinguishing  this is because usually families that build a new home have a lot invested into their projects in the form of cash equity (down payment). These families buy land, pay for blueprints, permits, lot grading and quite a few other expenses. Families building their dream home are usually well qualified and are usually the antithesis of a sub prime consumer.

If you interesting in building your dream home call me at 619-222-1059 and I will guide you to a lender that still believes in the American Dream.

Rick Gomez

NationwideConstructionLoans.com and CaliforniaConstructionLoans.com

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