Builders/Retailers, Land Sellers/Subdivision Owners, Chattel Lenders, and Mortgage Companies are trying to understand how to apply real estate mortgage lending requirements to the factory-built and site-built housing industies.

Questions like:

“Who is the Seller on the HUD-1?”“Does the Retailer payoff the lot or does the lot owner payoff the factory unit?”

“Who establishes the total sales price for the home/unit, lot, improvements, and closing costs?”
“What happens when the total sales price does not appraise?”
“Who oversees the construction budget for improvements, construction related conditions, and final inspections?”
“Who makes sure the proper insurance is in force during construction?”
“What happens if the purchaser “backs out” after the unit has been affixed but the loan has not closed?”

"Who ensures that all construction related conditions are met for HUD insuring purposes?
   

National Capital Funding, Ltd. provides the answers to these questions via a True One-Time Close Construction/Permanent Loan and administers the mortgage closing and construction funds through interim and final inspections.


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     NCF's construction administration services provide the missing link for the factory-built and site-built housing industries to cope effectively with real estate mortgage financing. NCF does not compete with the builder/retailer, the loan originator, or the permanent lender, but faciliates and coordinates the interim piece of our true 1x close const/perm loan for them.
  National Capital Funding, Ltd.’s construction administration services and technology will allow the loan originator and perm lender to do what they do best: originate and approve customers for the permanent loan. NCF then oversees and administers the construction draws and collects for the permanent lender the final construction related conditions. The construction administration services of NCF alleviate the originator from having to provide these services. Once the originator gets the purchaser approved by a permanent lender through our network of alliances, NCF handles the loan through closing, construction, and conversion to permanent. The originator earns their normal fee.

  For more information about our construction administration services, please view the One-Time Close with Staged Funding Overview and How to Submit a 1x Close Loan guide available on the Forms page of our site.

Be sure to check out the Lenders page for a current list of permanent lender's with which we have an alliance and who our offering our true one-time close construction/permanent product and FHA Streamlined (k) loan product.

NCF offers a monthly webinar for our true 1x close program designed specifically for loan originators and processors to help you learn and understand our 1x close process. Sign up for the NCF Newsletter to be notified once trainigs are scheduled.

If you have any questions or would like to learn more, please contact us!

 

National Capital Funding

Corporate Office:

National Capital Funding, Ltd.
14405 Walters Road, Suite 350
Houston, Texas 77014-1320

Phone: (281) 537-0073
Fax:     (281) 537-5698
E-mail:  info@ncfunding.net

The One-Time-Close Loan ||| Flowchart ||| About Us ||| Forms ||| Contact Us

Copyright © National Capital Funding, Ltd., 2008. All Rights Reserved
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