Sentences with phrase «additional construction lenders»
We noticed a demand for additional construction lenders due to increasing construction requests for ground up build to repositioning obsolete facilities.
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As of late last year, Tishman was in the market for a $ 1.5 billion construction loan for the project, though industry experts said it's unlikely that lenders would be willing to increase financing packages to cover additional steel costs.
At each scheduled step, the lender usually checks on the progress of construction before releasing additional funding.
Construction Permanent Loans require additional loan documentation, underwriting and lender review.
The preferred equity Pembrook provided will serve as additional financing to a $ 32.1 million first mortgage construction loan that the borrower has secured from another lender.
Montegra will consider financing a loan for the purpose of finishing a small portion of a larger construction project if the initial construction loan did not provide sufficient funds to finish and the initial construction lender will not provide the additional funds required.
The initial institutional or bank lender is unwilling to advance additional funds to complete the construction, but Montegra will consider funding a new first - mortgage construction loan of $ 600,000 to pay off the original mortgage and provide the necessary additional funds to finish the property.
«In particular, lenders instituted additional offerings of loan programs like the FHA 203 (k) home improvement program and one - time - close programs for financing new construction.»
Few lenders have been willing to take on the additional construction risk and processing flow.