What can we do?
- Approved builder can lock-in rates for “spec” properties for 60, 90, or 120 days without a buyer or sales contract. They then transfer the lock to the prospective buyer. 60-day speck lock for free. Helps move inventory in a rising rate environment.
- HomeBridge has an extensive internal process to analyze and deal with all new construction items and concerns including energy efficiency.
- Detailed pipeline reporting on all traffic and “on-site coverage” from dedicated Loan Officer. Assist agent with traffic flow at open houses, special events etc.
- Provide guidance for agency compliant legal documents and phasing project to meet presale requirements faster, reducing carry costs and improving margins.
- Assist on properly structuring home-owners association, budget and reserve requirements for new projects.
- Condominium project review services ie; Fannie Mae, Freddie Mac, FHA, VA, FHA presale currently at 30%, Fannie currently 50%. We have other 0% presale options with investors which we can close the first unit in and then offer them a refinance option after 180 days for jumbo 2-4 unit projects and over 4 unit projects. We have 0% presale option with Freddie Mac as well for projects over 4 units for agency high balance (604,250 single unit). We can do the Fannie, Freddie and FHA Project approvals in the house which typically can be done within one week from when we are in receipt of all items needed for approval. For the VA approval, it does need to be uploaded to the VA and takes anywhere from 30 to 45 days for the approval to be granted.
- We can also work with the closing attorney to offer incentive packages for the buyers to use us by offering closing costs credits. We can have a financing folder which outlines what we can offer the client in terms of product, pricing, and incentives.