The Dan Moralez Mortgage Team is pleased to be one of the premier construction lenders in Michigan. In order to help you better serve your clients we have put a page of resources together for you. On this page you will find our general policies as well as various forms that will help to expedite the construction process for you.
All builders who will be building a home financed by us are required to be reviewed as part of our construction lending process. We will review your trade references, previous client references and other information. In addition, we will verify your license is in good standing with the State. Upon review of your credentials we may require additional supporting documentation. Our review is not a warranty of your workmanship, ability to complete the job or an endorsement of your qualifications as a builder.
Under NO circumstances should you start construction prior to the closing of the construction loan. This can jeopardize loan approval and may make the loan in eligible for title insurance. If you are on a tight deadline, please contact our office to discuss timing so that we can work with you to serve our mutual client.
Every draw request requires a completed draw authorization form. This form must be fully completed, signed by the clients and signed and notarized by you the builder. Improperly completed forms can result in a delay in your draw processing. We strive to fund draws as quickly as possible upon receipt of all necessary documentation.
Please keep in mind that you cannot draw for work that is not completed or for materials that are not delivered and installed. We do not have a set draw schedule. However, we ask that you limit your draws to one per month. We strive to apply a common sense approach to the draw process.
It is our strong desire to insure a smooth building process for both our clients as well as the builders we have the honor of working with. If we can be of assistance to you, please do not hesitate to contact our office.