Shared by Ed Currie of Associated Bank
The construction program is generally paid out based on work completed. However, deposits can be obtained for custom items where its’ typical for the provider to require a deposit. Items such as cabinets, windows, and counter tops can generally get a deposit with the final balance provided when they are on site and installed.
For larger custom homes, there can be instances where a custom item may need a 50% deposit. This can generally be accommodated as long as an invoice from the provider is received indicating a 50% deposit is needed. Once the item is installed, the remaining balance will be paid out.
Meet the Author …
Ed Currie
Ed Currie began assisting clients with mortgage financing in 1994 during one of the slowest mortgage markets in the last 25 years. The slow market allowed Ed to develop his client-centric philosophy and drive to make the process as stress-free as possible. Since that time, Ed has assisted over 5000 clients with total loan production exceeding $1 Billion.
