When shopping for a lender, it is of course important to compare rates, loan costs/fees, reliability, etc.
What additional considerations and questions should be researched and asked when looking for a construction lender for a new home build? The loan would be a construction-to-perm loan with a single up-front closing, but the bank would be doing monthly inspections/draw releases, so they would be much more “hands on” over 6-12 month timeframe than a traditional purchase and close process. It seems like there should be additional factors and questions to consider along these lines, but I can’t seem to crystallize the questions in my head. Help would be appreciated. Also, for folks who have gone through this process, any tips related to the lending side? Thank you!
Picking the best lender for a residential construction-to-permanent loan
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