We closed on the construction loan today. The loan is through Emerald Bank, a small bank in Dublin, OH that tends to specialize in construction loans. The closing felt much different than the last two times we bought houses - there wasn't another set of people we were buying the house from in the room. Just our lender, the title agent and the two of us.
The closing was fairly uneventful. The only part we didn't appreciate was the way the title agency split up the title insurance. In the last two closes the lenders and the owners policies were bundled into one. In this closing, our estimate only had the lender's policy in it, then the title agent did the whole "used car salesman" bit as he explained why we needed to buy the owners policy also.
After doing some research, we believe it should have all been put into the first estimate like our last two closings. That way it was just a closing and didn't have to include a sales pitch.
