Mortgage lenders that finance construction loans have taken a hit as projects across the nation have been delayed or halted altogether due to the COVID-19 pandemic. As a result, lenders that are still doing construction and land loans have tried to safeguard their cash reserves and have been extremely cautious about where they place money.
Traditional lenders — especially banks — might be the most conservative on this front. If they choose to move forward on a construction deal, it has to make sense on all levels. Reg