Whether you are investing in property or you have a construction company that is working hard to keep up with demand, you many times will need cash for the investments not knowing who the buyer will be yet. If you waited to that point, the log jam would kill just about any business. Being able to quickly get construction or builder spec loans from a reliable company in a timely manner help to move the process along swiftly.
Consider these reasons why the construction and spec home loans are the best way to expand the business and grow your bottom line.
1. The benefits to the construction and builder spec loans are quite numerous. A few things to consider right at the start is that there are no retainage hold-backs, you will be able to make frequent and flexible draws, and there are going to be easy builder approvals.
2. Unlike other types of loans, even from the local bank, with construction and builder spec loans, you deal with a single loan originator. What this means to the busy investor on construction company that has more prospects than proprieties, is you will only have one financial relationship, one person that will do all the work involving your loan details, so the process moves along quickly and efficiently.
3. Whether you are looking for permanent or interim construction and builder spec loans, in-house financing means that you are not going to be waiting for approval or your application is not going to be going from underwriter to underwriter outside this facility. You can focus on your business as things move along smoothly.
4. The underwriting process with the construction and builder spec loans is completely transparent from the first moment you begin the application right through the final approval. Each step of the way, your assigned loan officer will keep you abreast of all the details right up until closing.
5. For the investor or construction company purchasing several pieces of property on one lot, time is a very limited commodity. The last thing you have time for is a closing this week, one next week, one delay, one rescheduled. If you are investing in a few properties on a lot, simultaneous closings will help to streamline your construction and builder spec loans process.
Now you see all the reasons why construction and builder spec loans are going to help move this process along swiftly so you can put your efforts on growing your business. Fror more info visit: ConstructionSpecLoans.com