TRID 101 question

Posted By: Banker57

TRID 101 question - 08/04/20 01:19 PM

Building contractor requesting loan to build a single family dwelling for HIS customer. Upon completion that customer will purchase the dwelling. Is the initial loan to the builder a TRID loan?

Posted By: rlcarey

Re: TRID 101 question - 08/04/20 01:23 PM

No - business purpose loan and likely the builder would be an entity.

Posted By: Banker57

Re: TRID 101 question - 08/04/20 01:26 PM

Perfect! That is the answer I wanted.