Residential Construction Lending, Webinar

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What is construction risk and how is it mitigated?

What additional due diligence is needed, beyond a conventional mortgage application and underwriting?

Full construction vs. repair/remodel

Construction contract and cost estimate issues (Description of Materials form)

Contractor credentials and qualifications

Plans and drawings

Survey

Title insurance

Appraisal issues

Loan pricing and structuring

Typical interest rate and fees

Construction loan agreements

Issues with draws and inspections, including cost over-runs and lien priority

How is the construction loan going to end (get repaid)?