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CANCELED – Construction to Permanent Financing (OTC) @ Canyon Title Westminster

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Date/Time
Date(s) - 20 Jul 2017
10:00 am - 12:00 pm

Location
Canyon Title Westminster

Categories



“One time close” loan is a new construction lending program for FHA, VA and Conventional loans. This loan will allow customers to roll the construction financing and the money to purchase the land into one loan. The loan has a term of 6-12 months construction term and during the construction period the customer/builder pays for the construction financing. Once the home is completed the loan rolls right into a permanent loan and there is no need to re-qualify  or refinance the take out loan to pay for the construction financing. This loan qualifies the customer for the financing and we validate the builder who works on the new home on draws. The loan helps smaller builders who don’t have lines of credit from banks since we lend directly to the customer. The realtor can help the customer with the land purchase and new construction purchase contract and we provide all the financing. New Penn utilizes a Project management company (Granite) to supervise the construction process and assure the work is inspected and meets the plans and specs prior to advancing funds to the builder. The program also includes a construction manager to coordinate the program and facilitate communication between the branch, project manager (Granite), and other corporate entities that participate in the program (i.e. Accounting and servicing).

Marco Montano, graduated from Loma Linda University in 1991 with a BBA in Business Management. He also attended Cal State San Bernardino University for graduate studies in education. He taught for San Bernardino County Schools in San Bernardino California before going into the real estate business. Marco is now an Area Manager for New Penn Financial since August 2014 and has been teaching classes to Realtors since 2008 in Colorado. One of his passions is to be in the classroom educating Realtors in various topics and CE credit classes. Marco has various classes he teaches and is always adding new classes to his agenda. His experience and delivery will make every class flow smooth, and interactive. The goal for Marco is to teach Ce credit classes that are relevant to the market, and something Realtors can use in their tool box.

Hurry & RSVP as this Class is Complimentary  and offers 2 CE Credits!

Hosted By: Morgan Bolinder


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