With our expertise and our vast number of banking relationships, we have the ability to help you find, purchase and fund a loan for your business, achieve a more financially beneficial product for a property you already own and to also help you build a successful commercial portfolio of properties. We aggressively seek out the best lenders in the industry and pass that on to you, our client. We have numerous clients' that have built their own portfolio using us solely as their financial and investment planner over long periods of time. We are in the business of generating and maintaining relationships. We are driven to assist you in a long-term successful investment plan.
Jamis Companies has many years of experience in the construction loan processes and can create all the documents required to facilitate your lending requirements.
Unlike a mortgage which requires one level of approval, a construction loan requires three levels of approval. These approvals are designed to ensure that your project is well-planned and to minimize risk to the lender. Because there are so many more steps involved in a construction loan, it is important to start preparing the required documents as early as possible to prevent any delays in financing.
Borrower Approval – this is the borrower’s ability to qualify for the loan (just like a purchase or refinancing mortgage).
Contractor Approval – this is the approval by the lender of the contractors who will do the work. Lenders want to make sure you are using professionals who will do a quality job; the reputation and expertise of the contractors you choose will influence which lenders we chose to work with for financing.
Project Approval – this is a review of the budget, the construction contract signed between the borrower and the General Contractor, and the blueprints. Lenders want to make sure that your building costs are appropriate for the area in which you are building, that you will have enough money in reserves to finish the project, and that the appraisal is realistic.
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