Why do lenders require a Foundation Survey?
Lenders will require a Foundation Survey when the foundation of the borrowers home is complete. The Foundation Survey is done by a licensed Surveyor and reassures the lender that your foundation (and therefore your home) is positioned on your property properly (and not on your neighbors). It supports that your house is being built where it is suppose to be built and that it is not infringing upon any easements, right of ways or setback requirements. Upon notice from you that your foundation (footings) are complete, Construction Loan One will order this for you and the cost will be deducted from your closing costs. From the time that this is ordered, it usually takes just two or three days.
