Can anyone recommend a bank or source for a renovation/construction loan assuming the borrower has good credit? It seems nowadays a lot of places aren't lending anymore. The problem I'm facing is that the property I am trying to renovate is not habitable and vacant, and a lot of places require tenants to be in place in order to qualify for a loan. Only thing I can think of is a regular home equity line of credit or something like that. Does anyone know of any New York State programs or federal programs providing financing for renovation? It could be asset-backed since the property has no underlying mortgage or debt. Thanks for the help!

you can get a FHA 203k loan, but it may require you to also live there

The property has 8 residential units, so I can live in one unit. But does a 8 residential unit building qualify for a FHA 203k loan? I spoke to Wells Fargo and they said that any property 4+ units is commercial....but commercial financing department said that property must be tenant occupied before it qualifies for loan.

Did you talk to any hard money lenders? What did they say?

{Manhattan real estate agent.}

Which hard money lenders do you mean?