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If you are looking for a construction loan ...

Started by BobF
about 15 years ago
Posts: 61
Member since: Oct 2008
Discussion about
I recently bought land and am building. I spoke to numerous banks and brokers about construction loans. BY FAR the best deal was with Citizens Banks. They are also very customer friendly. Buying and building is a no brainer as long as you can wait a year or so to actually move in. Just figured I would make the recommendation for anyone looking. Literally other banks were 1.5-2 times higher on the rate.
Response by LastCrash
about 15 years ago
Posts: 2
Member since: Jul 2011

Just out of curiosity, what's your estimate for the final cost/sq ft (excluding yard / pool), and are you in the building trades yourself?

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Response by BobF
about 15 years ago
Posts: 61
Member since: Oct 2008

Sure. Pool was included in the overall price...and i havent decided on all my "extras"...but it will likely come out between $350 and $400 a square foot. I think Im getting a decent deal...its all fairly high end stuff included in the price. That price doesnt include any real landscaing. Just the basics.

Im not a builder so I dont have any edge or way of cutting corners. I did feel out a ton of builders to see who could build a great house at a reasonable price.

Its way more gratifying to buy land and build exactly what you want. You save some taxes too. I just felt like there were so many crappy houses out there offered at 1.5-2.0mm. They were old with vinyl pools. Im bulding for what I think will be the same size (maybe bigger), and roughly the same price range.

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Response by Seb52
about 15 years ago
Posts: 14
Member since: Aug 2008

Hey Bob, any specific contact @ citizens bank?
Thanks

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Response by BobF
about 15 years ago
Posts: 61
Member since: Oct 2008

Yes. Brian Clark. You can call hi assistant Jaime Ellis at 401-282-5417. Its by far the best deal and cheap fees. Cant beat it. Let me know if it works out!

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Response by Seb52
about 15 years ago
Posts: 14
Member since: Aug 2008

thanks, ill contact them. ill keep you posted.

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