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#2063839 - 02/11/16 04:03 PM Loan Estimate - Construction
mdog76 Offline
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What value goes in the estimated property value on the LE for a construction loan?

Thank you.

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#2063841 - 02/11/16 04:05 PM Re: Loan Estimate - Construction mdog76
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Total finished job
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#2063852 - 02/11/16 04:13 PM Re: Loan Estimate - Construction mdog76
mdog76 Offline
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That's what I thought. The next question I'll get is how do we get that value without the appraisal in hand telling us the "as completed value"? Or is this truly an estimated value?

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#2063879 - 02/11/16 04:56 PM Re: Loan Estimate - Construction mdog76
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You start with an educated guess, or what the customer is hoping for. You end (your CloD) with an appraised value based on plans and specs, generally.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#2063881 - 02/11/16 04:59 PM Re: Loan Estimate - Construction mdog76
mdog76 Offline
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Posts: 645
Thanks for the help.

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