Construction Team

3. Acronym for Down Date Endorsement
5. Acronym for Earnest Money Deposit
7. Document requested from current lien holder to verify exact amount owed on loan to be satisfied.
9. Also known as 1003 in Mortgage lingo
11. A set of detailed drawings that provide a visual guide for building of home
13. Protects Contractor against Claims of bodily injury
14. the out-of-pocket amount you must pay for covered services before your insurance plan begins to pay
15. eport done by an independent licensed 3rd party to give their option of the site/property value
16. Acronym for Home Owners Insurance
17. RBFCU can finance up to 90% of appraised value

1. Acronym for Planned Unit Developement
2. RBFCU holds 5% at the end until construction is complete
4. Acronym for Paid Outside of Closing
6. Money paid to the builder before our members Construction loan closes
8. Performed by an independent 3rd party to verify progress of construction
10. Agreement between a builder and our member to construction a dwelling
12. a detailed map and report created by a licensed professional that identifies the property's exact boundaries, dimensions, and any encroachments, easements, or significant features relative to those boundaries