Contractor Talk - Professional Construction and Remodeling Forum banner

Bank Loan question

1715 Views 10 Replies 9 Participants Last post by  WilsonRMDL
I did a job last year, and the client (a buddy, at least I thought) said that the bank required him to insulate the attic before they would approve any loan. To me that doesn't make any sense. They were trying to get a loan to finance a 2nd story addition.

I can understand how the bank would require permiting information, and/or that the various permits get finalized. But a requirement regarding that the attic get insulated? This makes no sense to a hucklebuck such as myself. Hoping one of the G.C. guys could fill me in on any potential requirement that a bank would want in regards to finalizing a loan for a loan extension.
1 - 1 of 11 Posts
It seems unusual to say the least. Is your buddy trying to get you to insulate for free? If he were wanting free stuff, I think he would come up with a better story.
I'm not shy about talking to the bank. I usually touch base with them several times during a project. Banks are real touchy about trying to make sure they aren't stuck with a lemon. I feel that when I am in touch with them, they get to know me and feel more confident about the loans.
1 - 1 of 11 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.