financing in Fl please help

newhouse123February 19, 2013

We are wanting to build our home on our property of 5 acres that we own and have 20% down. we had found a lender and they ran our credit and we did fill out a preapproval form and sent over all our required documents, well after many voice mails and emails we have not received a preapproval from this lender this is a month now and no answers, feeling very fustrated, we had sold our home and are living in a temp place and need to move. We were asked by the lender how much it would cost to build the home..well we dont know what size plan to look at beacuse we dont know what we can borrow? isnt that what a preapproval is for? anyone gone through construction financing is this what is the first step and do we need to summit plans and cost to the lender before getting preapproved? so confused ?? Any help Thanks!!

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badfish22

try another bank Regions does construction loans in FL. that's who we were gonna use. construction loans are very risky for banks. they need to know every thing. Also they will check on the house progress before draws are paid.

    Bookmark   February 20, 2013 at 7:58AM
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newhouse123

What is the min credit score to get a construction loan

    Bookmark   February 22, 2013 at 9:44AM
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