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Are any banks lending money for construction to perm loans? Indy Mac was one of the largest has closed down.
Indy Mac was the king of construction to perm loans. With the FDIC taking over recently and Freddie Mac and Fannie May both in serious trouble if you had plans on building that dream home you just might have to wait this one out. If you are looking for a jumbo loan, be prepared in putting down a significant amount of upfront cash, and if it isn’t your primary home FORGET IT!
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