· CONVENIENCE One-Time Application / One-Time Close. Lower Closing Costs. Use future value · GUARANTEED SALE Builder’s line of credit is freed up. Loan is closed prior to construction so builder will not end up with a spec house. · DRAW SCHEDULES: 5 CHOICES Many institutions insist on one specific draw schedule; no substitutions. We have one form containing 5 different draw schedules or customize your own! Have the builder pick one. | · SIMPLE DRAW PROCEDURES No lien waivers, affidavits, or invoices required for payout of draws. · NO BUILDER APPROVAL The only information required from the builder is a copy of their license. We do NOT require financial information, tax returns, or credit reports. · LOW VARIABLE INTEREST RATE DURING CONSTRUCTION PERIOD The borrower pays interest only during the construction period. Can be folded into the loan balance. The rate is tied to the prime rate. |