Construction Loans FAQ

                               

 
Site Map    
   
 


Construction Loans Frequently Asked Questions

 
  •  When does the construction loan term begin?
•  How do you know where to wire the funds?
•  Who does the borrower contact to request funds?
•  How quickly can the initial draw request get processed?
•  How much can the borrower get for start-up costs?
•  Will construction loans allow the borrower get reimbursed for pre-paid items?
•  What are hard costs?

 
 
 
•  
When does the construction loan term begin?
•  How do you know where to wire the funds?
•  Who does the borrower contact to request funds?
•  How quickly can the initial draw request get processed?
•  How much can the borrower get for start-up costs?
•  Will construction loans allow the borrower get reimbursed for pre-paid items?
•  What are hard costs?

•  
What are soft costs of construction?
•  What are deposits?
•  How does the loan disbursement process work?
•  Is there a set schedule for requesting draws?
•  How does the borrower request a draw?
•  How will borrowers know if their draw request has been approved?

•  How long will it take for the borrower to receive the funds after the Draw Request has been made?
•  How many inspections are allowed and what is the cost?
•  Who does the inspections?
•  What is the Lender's Contingency Account?
•  What is the construction loan interest Reserve?
•  How are deposits for kit and modular home handled?

•  What does the borrower do if an extension of the construction loan term is needed?
•  Is there a fee if an extension is needed?
•  What is required to roll the construction loan to a permanent loan?

•  How is the Final Draw Request made?
•  If the borrower is an owner/ builder:
•  If the home was built using a general contractor:

Get Started on Your Construction Loan Now... Click Here!

Visitors who visited this page, also found the following useful:
•  Construction Loan Budget
•  Construction Contract

1   2   3   4   5   6   »

 

 

 

 

  Copyright © Construction Loans FAQ , All Rights Reserved  
  [ HOME | FAQ | BUDGET | FAQ 2 | FAQ 3 | FAQ 4 | FAQ 5 | FAQ 6 | Stated Income | Modular Homes | Directory ]