Construction has a lot of terms that are specific to construction: Draws, Cumulative Draws, Inspections, Final Inspection, Modification, Interest Reserves, etc.

Additionally, there are processes that do not exist with other loans: Draw Requests, All Bills Paid Affidavits, Affidavits of Completion, Certificates of Occupancy, etc.

At most mortgage companies, all of these things are discussed at a marathon closing where everyone is struggling to understand.

At MPS, we iron out all the details and educate all parties as to exactly how construction will proceed and what they need to do (and not do) on a conference call that precedes the closing. That way, at closing, everyone is smiling and the documents are quickly and efficiently signed.