Just as building a home is a different experience than buying an existing property, home construction lending is different from traditional mortgage originations. There is no standard set of documents; the volume of loans is smaller; and there are three parties involved, not two. Those and other differences make construction loans a financial product that requires special care. They also make the experienced guidance of Polunsky Beitel Green invaluable to lenders exploring or offering construction loans.
We advise banks, mortgage companies and others on new construction and renovation loans of all sizes and types. We draft and negotiate the tri-party construction loan agreements that are central to most residential construction projects, along with all other required documentation. We draft our agreements to cover unexpected situations and are prepared to step in mid-project when unique complications arise.
For our clients, we not only handle individual transactions; we also counsel on the overall structuring of their construction lending products and process, frequently helping lenders establish construction lending departments. As with our mortgage lending services, we advise nationally from our deep base of experience.
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