how would you go about hotel construction financing in this type of market? I have current hotels ownership, and looking for the best rate as well as a credible bank to help provide help construction.

My wife and I signed a contract to purchase a new home in August of 2005. Since then, our finances have suffered because of unexpected medical expenses and a prolonged illness in the family, requiring our assistance. While the new home has been constructed like we dreamed, we have been declined for financing because of our debt ratios and because we could not come up with the down payment because my spouse has been helping her parents extensively and unable to earn a steady income. The construction company has given us two weeks to come up with financing, or forfeit our earnest money, approximately $34,000. I’ve worked with several different companies and all have declined our financing. The home was constructed in VA. After re-reviewing my contract, I did not find any financing contingency in there that would refund my deposit if my financing was declined … it appears that the builder has insured that they could keep the deposit under all circumstances. Do I have any remedy?

I’m interested in their services and would like to know approximate % of funds to close and procedures of constructions, plusses and minuses of this program. I will be building in Central Florida and do not own the land. Any information will be appreciated. Are there any similar programs out there? I’m not interested in mortgage brokers since I’m one of them.Thanks