Posted by Don Dion on July 11, 2003 at 24:43:10:
I do these often if your putting them on lots your selling to the clients. I can do 90% construction perm loans or 100% end loans depending on the clients needs. With the first one the Construction Perm Loan you the builder/developer dont need to use any of your own money. The lot , permits and up front money to the factory are all done at the initial closing. You have a second payout for excavation, foundation, utilites, and rough site work once the inspection is done prior to delivery. Then you have a payout once the home is installed and the local occupancy cert is issued.