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#1816906 - 05/23/13 05:33 PM Construction loan term
MarieF Offline
Junior Member
Joined: Nov 2011
Posts: 28
Texas
Section 1026.43(a)(3)(iii)of the preamble discusses the temporary financing exemption as it relates to construction-perm loans. However, this section is silent as to the term of the construction phase. Can the construction phase exceed 12 months and still be exempt? Thanks

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Ability to Repay/Qualified Mortgage Rule
#1817135 - 05/24/13 12:19 PM Re: Construction loan term MarieF
Soccer Offline
Diamond Poster
Joined: Jan 2010
Posts: 1,018
Utopia
I don't believe so, but then again I'm so exhausted from reading that I may have missed something.
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