CONSTRUCTION LOANS EVALUATION

CONSTRUCTION LOANS EVALUATION

JEMS is a Massachusetts-based private lending company offering loans for construction and development projects.

Our construction loans evaluation process starts with a simple phone call or email from our borrower. We request the following information:

1. Property Information – address, type of property and zoning information
2. Description of project – new construction, renovation, flip
3. Financial Information – purchase price, construction/renovation costs, target sale price

With this basic information we can typically give you an answer within 24 hours. This initial construction loan approval is conditional pending full loan review which includes:

• Market Analysis
• Site and Zoning Review
• Plan, Specification and Budget Review
• Appraisal
• More Info

Assuming this analysis checks out we issue a final approval and move to closing, typically within three to five days. Our attorney handles title review and assembly of loan documentation. While we have closed loans in as little as three days, typically the process takes two to three weeks.