Construction lending is the “deep end” of the mortgage pool. Any loan officer should be able refinance your current loan or get you a simple purchase mortgage, but getting a construction loan is much more complex. The more construction loan experience your loan officer has, the quicker you can close and start building. If your loan officer only has a few years in the business, with little or no construction lending experience, you could be waiting months and months to close, if you ever close.
Take a moment and go to this website, http://www.nmlsconsumeraccess.org/. This is the public look-up site for the Nationwide Mortgage Licensing System. Every mortgage company and loan officer must register here.
Input your loan officer’s NMLS number, mine is 134090. Click on their name, on the next screen and you can find out if they have any regulatory actions against them. Next, click on View Employment History. There you can find out if your Loan Officer was writing loans a few years ago or flipping burgers.
Jerry Thomas, Construction Loan Officer
NMLS #134090
Great article as always Jerry! A lender with the experience securing VA Construction Loans is vital to getting your dream home built. This process is one that should start and end using the most experienced professionals in the industry. In my article, https://www.garrisonforveterans.com/post/how-garrison-for-veterans-can-help-you I discuss how a real estate development manager can be another useful tool for buyers looking to construct their home.
Hey Jerry, great article as always. As you discussed, an experienced lender is an invaluable resource when it comes to VA Construction Loan lending. This is a process that should start and end with the most experienced professionals in the industry. In my article: https://www.garrisonforveterans.com/post/how-garrison-for-veterans-can-help-you I talk about the benefits of buyers using a real estate development manager as an additional member of their team.