Saturday, September 21, 2019
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Residential Construction Lending,Webinar

September 9 @ 1:30 pm - 3:30 pm CDT

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Covered Topics

  • What is construction risk and how is it mitigated?
  • What is the type of project?
    • Full construction vs. repair/remodel
    • Owner as borrower, hires a builder
    • Builder/speculative
  • What additional due diligence is needed, beyond a conventional mortgage application and underwriting?
    • 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)?