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Jason Robb, with Blue Ridge Bank, joins us for a second round to discuss vertical home building and financing. 

Have you ever wondered how home builders finance the communities and homes they are building? I know that I have, and Jason can break down misconceptions, draw schedules, interest rates, and other discussion points around homebuilder financing. 

Here are some of the questions we press Jason with to understand better the banker's involvement in financing our new home construction. Understanding this discussion will help you get a high-level view of how builders operate if you are in the home building industry, trade, or builder. 

1. Do the bankers requesting more documents from the builder know what they are looking at? Are the documents necessary or just a way to weed out unnecessary work? 
2. What can we expect with interest rates in 2023? How worried should we be as an industry and as consumers?
3. When it comes to a builder's line of credit, what are the most significant factors that help the bank decide to loan or not? 
4. How is the money typically dispersed? Are there any specific bank draw schedules that all banks follow? How often can we take a draw? How long will it take from an inspection until the money hits the builder's bank account? 
5. How does a bank determine how much money can be borrowed against a property? Does having a signed, non-contingent contract make a difference? 

The bank has a critical role in new home construction, and bankers are just as much a part of the team as the electrician pulling the wire. We all need one another to build and deliver homes for consumers, and understanding more about each other, will help us all grow. 

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Carolyn can be found on LinkedIn at:
https://www.linkedin.com/in/carolyn-mcmahon-937b89158
Joshua can be found on LinkedIn at:
www.linkedin.com/in/joshuamcmahon15
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