SALT - for Builders > What We Do - Builders > Mortgage Take-Out
Northbay Family Homes has made hundreds of contacts in the lending industry and facilitated dozens of packages of mortgage financing (known in the trade as take-out financing).
Northbay Family Homes recognizes that completely different criteria are used to underwrite take-out financing as opposed to construction financing. Our extensive knowledge of both helps structure the take-out financing to facilitate obtaining construction loans. We advise ways of looking at the take-out lending first, to ensure obtaining the best possible terms and conditions for the construction financing. While it is usually more financially desirable to arrange the two lending requirements separately, it is occasionally wise to combine the two into one instrument.
Northbay Family Homes advises customers on the private-sector and the federal programs available that provide a single loan that can be utilized as construction and take-out financing. By facilitating the take-out financing to dovetail with the construction loan, Northbay Family Homes can ease the entire construction process, putting more profit into homebuilders’ coffers.
Mortgage Takeout services are just one of Northbay Family Homes's Seven Points of Entry in real estate development.