When getting ready to visit a lender regarding your loan, consider the terms and conditions of the construction loans available before you choose. After you present your case to a lender, talk through their terms using this checklist. If you are considered a good candidate, the lender will negotiate any or all of the terms.
1.Origination Fee -
2.Loan Rate -
3.Down Payment Required -
4.All-in-one Loan -
5.Interest Rate Locks -
6.Title Insurance and Other Fees -
7.Draw Procedures -
8.Uninstalled Item Draws -
9.Cost for Inspections -
10.Title Update Fees -
11.Category Shifting -
12.Insurance Cost -
13.Time Limit -
14.Cost of Extension -
15.Additional Amounts -
16.Disputes -
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