Good Sources of Financing construction loan?

[konatopuna]

Does anyone have good sources for a construction loan. Ideally I'm looking for a source that will not demand payments for 1yr or so. Appreciate the help

[jdirgo]

I haven't used them for a construction loan but I hear they have a program like what you're seeking.

Phil Maise - Wells Fargo at 935-3953

John Dirgo, RA, ABR, e-PRO
RE/MAX Properties
808-987-9243 cell

[Rob Tucker]

I think I found the ideal loan source for you.

Aloha Community Lending is located behind the Subway shop in the new Pahoa Marketplace.

Josie Harmon runs the place and is real sharp. All the local main line outfits (Bank of Hawaii, First Hawaiian, American Savings) turn their noses up at Puna and give you songs and dances about lava hazard zones.

Talk to Josie 808-965-0075

Chairman, Punaweb Committee, MSPA

Edited by - Rob Tucker on 03/23/2006 15:25:52

[Hotzcatz]

Aloha,

When we needed a mortgage loan, we asked our friend who did a lot of financial stuff how he thought we should go about it since the house (it as a "tear down" wouldn't really pass any sort of inspection. He asked what the current mortgage rates were and just wrote us a check for the amount we needed. He said he'd get a better return from us than from most any other investment he could think of (at the time he was trading on the stock market). Since a mortgage is an investment secured by land or houses and the return is really spectacular (do the math!) then are there any of your friends you would rather give the money to than the bank or a financial institution?

Just a thought.

A hui hou,
Cathy

[John S. Rabi]

The loan you described and looking for is an "Interest Reserve" account and the interest you otherwise would pay during the construction is wrapped into the loan. Not many lenders offer this loan and if the recommendations here won't come through give me a call or send me a private e-mail and I will direct you to a lender who will help you out.

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185

[Kapohocat]

Try Brian Wells @ Aloha Mortgage 965-1740

-Cat