Confused About Lenders/funders

tanegra1 profile photo

Are lenders and funders the same thing? I have 3 projects on the table where the client wants to build houses on 2 separate lots and a commercial lot. All has been zoned, but I'm wondering if the lender or whoever's going to fund it will accept $0 dn or a percentage of the property as collateral till the houses on the lots are sold. Should I be asking the lender this question, or am I just spinning my wheels needlessly? confused

Comments(2)

  • verne_j21st November, 2003

    I dont think lenders will lend for 0 down because you're gonna have to show good faith and interest the property. So putting $ down is very important to show you're serious about the property.

    Verne

  • tanegra121st November, 2003

    I see. So if we put some money down or show some collateral that can be used to secure the property or the loan, is that better than killing the deal entirely? I just want to be clear on how we can secure the deal. I can already tell there'll be two hands in the pot on this, two lenders. Or does it have to be that way?

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