Description

For the Realtor® who has ever wondered about the true purpose of building codes, exactly how borrowers have equity in their Construction/Perm loans, or just what an “Open End” loan really provides a buyer, this is the course to enroll in!

Construction loan financing can be somewhat of a puzzle, and the material presented in this track will demystify all the elements of financing and building a new home. From mechanics to characteristics, this course builds the groundwork for Realtors® when it comes to construction loan financing.

Objectives: After taking this class students will be able to understand:

• Construction / Perm Mortgages

• Draw Schedules

• “Notice to Owners”

• The inspection process

• Appraisal documentation

• The difference between a “Sales” and “Construction” contract

• “Take Out” commitments

• “End Loan Options”