Re: Bridge Loans | <– Date –> <– Thread –> |
From: Rebbry (Rebbryaol.com) | |
Date: Mon, 15 Dec 1997 11:01:17 -0600 |
Marty at Two-Acre Wood wrote: <<We need some help here!! We are at the critical point of almost ready to apply for our bank loan for construction. Because of the usual low appraisals, we'll need to raise something in the neighborhood of 400-500 thousand dollars!! on top of the capital contributions that we have all made to show the bank that we have all the money to build the project. This is to be raised by 12 households. We are looking for creative ideas that you all used to raise this bridge money. Also, if anyone knows good sources that will lend this type of money to coho groups at a reasonable interest rate, PLEASE let me know.>> I understand that the Federal Home Loan Bank will make bridge loans. Some banks are FHLB members; others aren't. The bank itself will make the FHLB application on your behalf. Also, if you have affordable units involved, you might get help from a community development loan fund. Rebecca Bryant Ozark CoHousing where we looking at real estate
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Bridge Loans MartyR707, December 14 1997
- Re: Bridge Loans Rebbry, December 15 1997
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