How a Construction-to-Permanent Loan Impacts Contractors & Lenders
Levelset
OCTOBER 19, 2022
Without a contingency, unforeseen costs like material price increases may cause the project to go over budget, thereby blocking or delaying completion. . Incorporating a contingency reserve, like a construction allowance , into the loan is often used to reduce the impact of rising material costs. Failing to protect lien rights.
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