CONSTRUCTION LOAN INSPECTION

Example: For a construction permanent loan, an upfront fee of $400 is charged for up to 4 inspections during the construction phase. In other documentation it is disclosed to the borrower that if additional inspections are needed, there will be a charge of $100 per additional inspection.

Infield Loan Services, LLC was founded to protect lenders and owners from construction risk. Our third-party inspection services provide the professional and unbiased reporting and consulting that is often needed during residential and commercial construction.

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A standard mortgage loan is not going to cut it – but you may be eligible for a special type of loan known as a construction loan. What Is a Construction Loan? A construction loan is typically a short-term loan used to pay for the cost of building a home.

Construction loan draw inspections. Target Building Inspections provides the banking and lending industry via residential and commercial new construction aia pay app draw inspections nationwide. Pay application draw inspections are engineered to reduce lending risk, achieve accurate onsite data.

Bank Loan Inspections are required by all Lending Institutions to determine the amount of work that has been completed at a construction site so the Borrower (a Construction Company or Home Builder) can draw on their loan. Draw inspections are typically conducted on a monthly basis, but can be performed as requested by the contractor.

“Construct has completely automated our loan administration, inspection and draw process, making a highly complex practice very quick and efficient. It has made processing construction loans easy for.

Why is a Draw Inspection Important? A draw inspection allows the construction loan lender to know exactly where in the process the construction site is compared to the timeline. As a risk mitigation company, Granite Companies then disperses funds based on the results of the draw inspection.

Infield Loan Services, LLC was founded to protect lenders and owners from construction risk. Our third-party inspection services provide the professional and unbiased reporting and consulting that is often needed during residential and commercial construction..

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Infield Loan Services, LLC was founded to protect lenders and owners from construction risk. Our third-party inspection services provide the professional and unbiased reporting and consulting that is often needed during residential and commercial construction.

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