Hi just wondering if anyone knows which, if any lenders will offer a costruction loan for a cost plus contract. The rennovations are DA approved and we are using a licensed builder. It seems some lenders will only do this for loans greater than a million dollars and others wont do it for structural rennovations. Any information appreciated.
Thanks.
Construction loan - cost plus rennovation contract
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Our bank would not accept a cost plus contract - only fixed.
I would talk to your builders and see what can be arranged. Ultimately with a cost plus contract it will still go out to tender and you will have a good idea of the cost
I would talk to your builders and see what can be arranged. Ultimately with a cost plus contract it will still go out to tender and you will have a good idea of the cost
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