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Loan Servicing – FAQ


How much is my payment?

Please refer to the Payment Information box on the right side of your monthly borrower statement. The ‘total amount owing’ is your payment amount.

When are monthly borrower statements sent out?

Statements are sent out via email on the 5th of the month.

When are my interest payments due?

Interest payments are due on the 10th of the month.

Who do I make my payments out to?

Please make your payment via check payable to Builders Capital.

What if my interest payment is paid late?

If your interest payment is received on or after the 16th of the month, you will be charged a fee calculated as 5% of the late amount or $250.00, whichever amount is greater.

Will I be notified about the balance of my interest reserve?

Yes, the interest reserve balance is indicated in the Loan Information box on the left side of your monthly borrower statement.

What if my interest reserve is depleted before the loan is paid off?

If your interest reserve has been depleted, interest payments must be made monthly, payable on the 10th of each month.

How will I be notified of my upcoming loan maturity date?

You will receive a letter 45 days prior to your loan maturity date with instructions on further actions to take.


How do I request an extension to my loan’s maturity date?

To request an extension, please send an email request to or call us at (206) 267-2650.

When is the extension fee due? Can I just roll it into the loan?

If an extension is needed, the fee is payable at the time will be added to the outstanding principal balance of the loan, however it will accrue interest at the Note rate and will be payable on the maturity date or earlier payoff of the loan.


How do I get a payoff amount?

To request a payoff statement, please send an email request to

How does Additional Interest work?

Unlike a Loan Origination Fee, which is rolled into the loan amount and paid as a percentage of the loan amount, Additional Interest is paid at the time you sell the home and it is paid as a percentage of the higher of appraised value or sales price.

When will my paid off loan be reconveyed?

We will reconvey your loan within 60 days of payoff date.


Can I use my interest reserve for monthly interest payments?

For this product, an interest reserve is established at loan closing however cannot be utilized for interest payments until the Lender has approved the project to move forward with construction disbursements in Phase II of the loan.

What happens if I don’t get my permits in the expected timeframe?

If permits have been delayed, please refer to your Promissory Note or contact your Loan Officer.

What happens if I need to make changes to the plans or scope of my project?

Please contact your Loan Officer to discuss proposed changes, and to determine the best financing strategy moving forward. Once your loan closes, you will be provided with a draw management form that will show your available budget balance. Draw requests must be submitted via email in electronic format.