Residential construction lending continues to expand slowly, along with the economy, with remodeling maintaining a large share of projects. This program provides an overview of the major issues involved in consumer or residential construction lending, primarily to individuals having a home built or remodeled.What You'll Learn:

• Construction risk and how is it mitigated
  
• Type of projects
  
• Full construction vs. repair/remodel
  
• Owner as borrower who hires a builder
  
• Builder/speculative
  
• 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 overruns and lien priority
  
• How is the construction loan going to end (get repaid)