The term sheet is an important document in commercial real estate lending. It is used to outline the terms of a potential loan prior to fully underwriting the deal and issuing a commitment letter.
If you go over budget, you may need to secure additional funding. Think of it as needing a little extra gas to reach your destination—better to be prepared!
Construction loans in Chandler generally last from 6 months to 1 year, giving you enough time to get your home off the ground. It’s like having your own clock ticking down to the finish line.