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Residential construction financing: Broker on the challenges

The shifting market means it’s essential for brokers involved in residential construction to remain hands on with the builders they’re dealing with and involve themselves in the process from the beginning of the transaction to its end.

Read more: Residential construction cost growth spurring deterioration in affordability

“The real deal starts after you close the transaction,” Naemsch explained. “You need to make certain that builder clients get through the process by ensuring they have the right financing for their budget, draw structures, contingency, and, of course, an exit strategy.”

Despite complex and often difficult times in the current environment for brokers, those challenging conditions also present the opportunity for mortgage professionals to show their value to clients and potentially expand their book of business,…

Read more at www.mpamag.com

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