New construction loans are coming online again as the economy rebounds.
The first of those loans, called osrs, was introduced on November 1.
The new lending program will let people who are ready to purchase property buy their home without needing to go through an application process.
If they buy the home, they’ll get a 5% discount on the price.
These loans will be issued to new construction companies, who will then take over the building once they’ve gotten approval from the state.
These companies have to make the final approval of the building.
That approval, though, is only valid until December 31st, so the first round of loans are only for new construction businesses.
If the first company fails, the remaining borrowers will get the remaining 5% of the purchase price back.
If a second company fails in its application process, the state will take over.
The state has yet to issue new construction permits, but there is hope.
The California State Treasurer has said that the state is on track to issue 1 million new construction permit applications by the end of this year.
If all goes according to plan, it could mean a lot of new construction going on in the state as early as January of 2019.