Anthony, Banks are really just for vanilla type loans (you could also say cookie cutter): a "normal" residential property with good credit, debt ratios, etc. They aren't very flexible and may not even be interested in a property such as yours. So, I would think with a special type property, you are indeed better off going with a broker. Banks may not really want a unique property and also do a construction-type loan. I think you are doing the right thing.
Broker vs Bank Kristy: Hah, funny thing, family over at BOA wants the rollover from construction deal at some very attractive terms. But not those so much more attractive that Iâ??d consider cutting out the broker, because the guy has done a great job thus far. Besides as you probably know BOA does like â??cookie-cutterâ? dealsâ?¦ Especially when culling (selling) paper. [;-)
