Buying Your Home Handbook - Construction Loan

Posted By: ComplianceGrl15

Buying Your Home Handbook - Construction Loan - 04/19/11 02:42 PM

If we have a construction loan where the borrower already owns their property and they are just building on it, do need to provide the buying your home handbook to them?

Thanks!
Posted By: Dan Persfull

Re: Buying Your Home Handbook - Construction Loan - 04/19/11 03:47 PM

If the transaction is subject to RESPA, yes. They are buying the home. They are just doing so in pieces and putting it together.
Posted By: ComplianceGrl15

Re: Buying Your Home Handbook - Construction Loan - 04/19/11 05:09 PM

Thank you! smile