TRID Loan Purpose & Construction Loans

TRID 2.0 construction loans: So, you’re doing a construction loan.  That means the loan purpose you disclose on the TRID disclosure is “construction”, right?  While that seems quite logical, it’s not always the case.  Even for what you consider to be a construction loan, you still have to work through the TRID loan purpose hierarchy.  You must first determine that it’s not a purchase and not a refinance before you get to construction.

Jerod says more about TRID Construction in the video.

Find TRID resources below!

Published
2021/07/19

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