Calendar of Events

Residential Construction Lending

12/10/2018, 1:30 PM to 3:30 PM

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:
Residential Construction Lending


Presented by Richard Hamm
Monday, December 10th, 2018

1:30 pm - 3:30 pm CT

COVERED TOPICS
  • 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)?
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