Before you can start construction on your new home, you must secure a construction loan. The approval process for this type of loan is more rigorous than for a mortgage because you are not collateralizing the loan with your home. Lenders will look at the architectural plans, project schedule, and proposed budget before they approve your...

A national lender was using spreadsheets to manage the post-close process for construction loans. They realized they needed a more efficient and scalable way to handle risk management, draws, and reporting. The system also helps lenders manage more loans with their current staff. Here are some of the reasons why. The construction loan management...

When you apply for a construction loan, it is important to understand that it is different from other types of loans. For instance, a home mortgage loan is issued by a lender (typically a financial institution) for the purpose of purchasing a residence. A business equipment financing loan is a different type of loan, which is also given to...