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General Process
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The following is a generalized explanation of steps taken to process a construction loan.
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(1) Builder and Owner are instructed to deliver all draw requests on a Sworn Construction Statement with supporting bills to TICOR Title and the lending institution.
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(2) The lender orders an appraisal inspection based on the Sworn Construction Statement which has been submitted .
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(3) The lender will review the draw request and inspection to determine if they will fund the draw.
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(4) TICOR Title receives the draw funds from lender and sets the date and time with owner and builder.
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(5) Remaining draws are handled in a similar manner. |
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To find out more or if you have any questions, contact Phil Ignarski. He'll be happy to answer your questions.
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