Proceeds to purchase another temporary home.
This product is for the homeowner who used their insurance proceeds to purchase another temporary residence for all cash or have a small mortgage and wants to rebuild their lost home. The equity in the new temporary residence would be used as collateral for the construction financing of the rebuild. Liens would be placed on both properties to secure the construction loan.
- Construction Loan Package Checklist
- Uniform Residential Loan Application
- Addendum to Loan Application
- Builder Statement
- Construction Cost Breakdown
- Borrower Environmental Questionnaire
- Property Clearance Notification & Conformation Sampling Approval Form
(Provided by your Mortgage Consultant)