SELECTED CONSTRUCTION LENDERS

SELECTED CONSTRUCTION LENDERS

This listing of construction lenders includes lenders for commercial and residential construction projects. Construction loans typically cover the building or renovation of a structure only, unless otherwise noted. Such loans may run for about three years, or less. Construction funds are usually high cost-typically 12% interest or more.

Construction lenders are often more eager to provide a loan if the prospective borrower already owns the land on which the construction will be done. Interim financing may be useful in buying the land and then aettina the desired construction financina.

COUNTRYWIDE HOME LOANS CONSTRUCTION/RENOVATION GROUP

1812 Abbots Ford Road

Vienna, VA 22182

Tel: 888-751-3038×247

Fax: 800-523-7158

E-mail: andrew.moore@203k.net

Web site: http://www.203k.net/

Countrywide’s Construction/Renovation Lending Group makes FHA 203k, conventional renovation, and new home construction loans throughout the United States.

Loan programs include:

* Construction Loans

* FHA 203k and Conventional Renovation Loans with loan amounts from $60,000 to $2,000,000

* Low and No Documentation Renovation Loans

* Investor Renovation Loans

* FHA and Conventional New Home Construction Loans with loan amounts from $75,000 to $2,000,000

* Low and No Documentation New Home

Application Information: Available from the company by request and from the Web site:

https://www.203k.net/apply/

DAVIS-PENN MORTGAGE COMPANY

12621 Featherwood Suite 290

Houston, TX 77034

Tel: 281-481-2400

Fax: 281-481-2425

E-mail: dpmc@davispenn.com

Web site: http://www.davispenn.com

Davis-Penn Mortgage originates, sells, and services real estate mortgages. The company is a HUD-Approved mortgagor for multifamily loans, GNMA-Approved issuer of mortgagebacked securities for multifamily project pools and Approved Seller-Servicer for HUD, GNMA and FHLMC with a servicing portfolio of around $500 million.

Davis-Penn specializes in the FHA/HUD arena.

The Multifamily Department is active in the various HUD Multifamily Programs, including:

* Section 223(f) -existing multifamily rental housing projects eligible for refinancing of existing debt or acquisition costs. The program also covers nursing home, assisted-living and board and care facilities.

* Section 221(d)4 -new construction or substantial rehabilitation of multifamily rental housing projects.

* Section 221 (d)3 -new construction or substantial rehabilitation of multifamily rental housing projects for non-profit ownership.

* Section 232 -new construction or substantial rehabilitation of nursing home, assisted-living of board and care facilities.

* Section 207(m) -new construction, rehabilitation, acquisition of refinance of manufactured housing communities.

Application Information: Available from the company by request and from the following e-mail address:

dpmc@davispenn.com

DESERT HILLS BANK

3001 E. Camelback Rd.

Phoenix, AZ 85016

Tel: 602-324-6700

Fax: 602-324-6767

E-mail: info@deserthillsbank.com

Web site: http://www.deserthillsbank.com

Desert Hills Bank is a community bank. Provides all types of commercial and residential real estate construction loans in AZ.

Application Information: Available from the company by request and from the Web site:

http://www.deserthillsbank.com/contact_/contact_.html

DIRECT MORTGAGE COMPANY

P.O. Box 1470

Boring, OR 97009

Tel: 866-479-1775

Fax: 707-667-1692

E-mail: info@directmortgageco.com

Web site: http://www.directmortgageco.com

Direct Mortgage Co. is a mortgage lender/broker specializing in residential and commercial loans from $25,000 to $12.5 million. Provides financing for purchase, refinance and construction of most types of commercial and mixed-use property nationwide.

Application Information: Available from the company by request and from the following email address:

info@directmortgageco. com

EAST BOSTON SAVINGS BANK

10 Meridian Street

East Boston, MA 02128

Tel: 800-657-EBSB or 617-567-1500

E-mail: http://www.ebsb.com/contact.cfm

Web site: http://www.ebsb.com

East Boston Savings Bank is a community stock savings bank which provides commercial construction loans for various property types in the state of MA. Property types include retail, industrial, office, apartments and mixed-use (store and apartments) property, as well as residential developments. Construction loan amounts range from $25,000 to $5,000,000.

Features of East Boston’s commercial construction loans program include:

* Mortgage rates tied to Treasury, Prime or Federal Home Loan Bank indices

* Various adjustable rate programs available

* Special Business Facade Loan program for storefront renovations from $5,000 to $50,000

* Fixed rate for initial period, then lock in for 1, 3 or 5 year intervals

* Construction to permanent financing available

* Rate caps so you know the maximum your rate can change per adjustment period and throughout the life of the loan

* LTV up to 80%

* Various point options let you choose the best rate for your situation

* Lender response to your application within 48 hours or less

* Available for commercial properties in the state of MA

* Terms vary depending on project.

Application Information: Available from the company by request and from the Web site:

http://www.ebsb.com/contact.cfm

FIRST STATE BANK OF CALIFORNIA

10820 Zelzah Ave.

Granada Hills, CA 91344

Tel: 818-366-2188

E-mail: FSBankCal@AOL.com

Web site: http://www.bankgranada.com

First State Bank of California is a consumer and commercial bank. Provides financing for construction, structural improvements, refinancing, consolidating debt, etc. Formerly named Bank Of Granada Hills.

Loans: Typical loan amounts for these types of loans are up to $250,000 or up to 80% of available equity. The bank also offers low starting rate variable commercial real estate loans and a fixed/variable rate package. Additional financing programs include lines of credit, accounts receivable financing, and equipment leasing.

Application Information: Available from the company by request and from Web site:

https://secureforms.c3vaultl.coin/forms/firststatebankCA/co ntact_us.htm

FIRSTHERITAGE SAVINGS CREDIT UNION

32160 South Fraser Way, P.O. Box 2100

Abbotsford, British Columbia CANADA V2T 3X8

Tel: 604-557-7300

Fax: 604-852-7307

E-mail: http://www.envisionfinancial.ca/contact-us/contact-us. aspx

Web site: http://www.canadianenterprises.org/firstheritagesavingscreditunion/website.htm

FirstHeritage is a Canadian credit union offering mortgages for the purchase of commercial property, interim construction financing, and term loans for business equipment and other purposes. Lines of credit also available.

Application Information: Available from the company by request and from e-mail address:

http://www. envisionfinancial. ca/contact-us/contact-us. aspx

FLALOANS.NET

Tel: 866-899-9413

Fax: 888-224-9738

E-mail: info@flaloans.net

Web site: http://www.flaloans.net

FlaLoans.net is a Web-based loan application gateway for residential, commercial and construction loans in the state of FL. Offers a construction loan program which combines construction and permanent financing. Minimum loan size: $100,000. Because FlaLoans.net does most of its business on the Web, the company does not publish its postal address.

Application Information: Available from the company by request and from the following email address:

loaninfo@flaloans.net

FREMONT NATIONAL BANK a TRUST COMPANY

P.O. Box 228

Fremont NE 68026-0228

Tel: 402-721-1050 or 800-317-2265

Fax:402-721-0321

E-mail: info@freniontnational.com

Web site: http://www.fremontnational.com

Fremont National Bank provides commercial and business construction loans to help with land development and construction of properties of all kinds. Commercial/business real estate loans are also available for the purchase of commercial or investment properties, which may include 1-4 family rental properties, apartment complexes, commercial buildings, office buildings, warehouses, and other commercial properties.

Application Information: Available from the company by request and from Web site:

http://www.fremontnational.com/questions.html

GALA RESOURCES

1212 Avenue of the Americas

New York, NY 10036

Tel: 800 372-3393

Fax: 212-302-8832

E-mail: info@galaresources.com

Web site: http://www.galaresources.com

Gala Resources is a direct lender, specializing in hard money loans and short-term mortgages. Offers loans to active dealers and investors on the following property and loan types: construction and renovation projects, 1-4 family homes, apartment houses, mixed-use properties, commercial properties, office buildings, condo and coops, strip centers, foreclosures and bank workouts. Operates nationwide. Brokers protected.

Recent construction loans completed include a $1,600,000 acquisition and construction loan on seven houses in Brooklyn NY; a $1.2 M construction loan for the rehab of a 100-unit apt. building in Nashville TN, and a $2,000,000 loan for acquisition and construction of a 100unit aparment complex in Baltimore, MD.

Application Information: Available from the company by request and from e-mail address:

info@galaresources.com

GCP CAPITAL GROUP LLC

60 Cutter Mill Road, 4th Floor

Great Neck, NY 11021

Tel: 516-487-5900

Fax: 516-487-5944

E-mail: http://www.gcpcap.com/gcpcontact.html

Web site: http://www.gcpcap.com

GCP is a real estate mortgage brokerage operating primarily in NY. GCP specializes in loans for Class A office buildings in both urban and suburban business districts. Loft and Class B and C office buildings in emerging and secondtier locations are also a significant part of GCP’s business.

The company states: “Our creative approach is effective for specialty property types, including hotels, investment and non-investment grade tenants, mobile home parks and net-leased properties.”

Recent construction projects include a $32,000,000 construction loan for a to-be-built, 220,000 square foot, 2-level retail property occupied by Target, TJ Maxx and Bed, Bath and Beyond in Mt. Vemon NY and a $7,300,000 loan for reconstruction of an existing commercial building into rental apartments in New York NY.

Application Information: Available from the company by request and from Web site:

http://www.gcpcap.com/gcpforni.htinl

GE REAL ESTATE

292 Long Ridge Rd.

Stamford, CT 06927

Tel: 888-433-4778 or 866-432-5500

Fax: 203-357-4475

Web site: http://www.gecapitakealestate.com

GE Real Estate (formerly GE Capital Real Estate) is a subsidiary of GE Commercial Finance. GE Real Estate provides financing for commercial real estate. The company backs shopping centers, apartment complexes, office buildings, and other commercial developments. GE Real Estate operates through joint ventures, equity acquisitions, loans, and leasebacks. It also provides loan servicing and property management services. Operates nationwide.

Construction financing programs include:

* Section 42 Tax Credits (multifamily housing development) program provides construction financing at competitive variable rates for up to 24-Month terms.

* Permanent Financing at market rates, 15-year terms and 30-year amortizations. Rate is forward-locked for up to 24 months at time of construction loan closing.

Property types: New construction of garden apts., townhomes, low-rise elevatored buildings. Also will finance rehabs of above property types. Investment size: $2,000,000 $10,000,000 for Tax Credit Equity Alone; $3,000,000 combined debt and equity minimum when using GE Capital construction and/or permanent loans.

Copyright International Wealth Success, Inc. 2004

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