In addition to a construction loan, how to apply for a mortgage, the cost of demolition, bluprint pay a claim?

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I have a few garages.I they demolish and construct a 3-storey house.This requires plans of an architect and other crap building.What to work for the city to order the bank and how this process is, without me cents from my credit pocket.My is good and this is my first loan home.What all be achieved without closing costs, because there is no physical place garages yet . The listed building and commercial property built in 1910. I tried to use equity as possible from the garage and was told how the commercial real estate does not allow.

  1. Reply
    May 14, 2011 at 2:31 am

    Your looking for a loan that does not exist.. First of all if the property is zoned commercial you will have a difficult time building a residential house on it… If it is approved by the city you will have a harder time getting financed because it will be considered mixed use property you will not be able to get high LTV conventional financing with the best rates because of the zoning. sorry to bust your bubble…

  2. Reply
    mac mogul
    May 14, 2011 at 3:21 am

    It’s bull you can get equity my friend the method i am going to tell you about is a little pricey but in a couple of days you will begin to execute what it is that you are trying to do. What you are looking for is a hard money loan or a bridge loan these loans are especially for what you are trying to do . They are just a little pricier, once you find out the details of these loans you will know what to ask for when shopping around and if you still don’t get it just email me back!as far as zoning you may be able to get a variance on the zone this is a process all by itself if I were in your shoes I would get the fight with the zoning board out of the way first!

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