Residential Construction Estimator in Chicago, Illinois at The Federal Savings Bank

The Federal Savings Bank is a federally chartered and veteran owned bank specializing in residential mortgage lending. Headquartered in Chicago, IL, we have Loan Production Offices throughout the country and originate in all 50 states. Due to consistent and extensive growth in the construction space, we are expanding the department to include a full-time Residential Construction Estimator.

The Residential Construction Estimator is responsible for reviewing builder proposals for residential construction projects and evaluating budgets, plans, and supporting documentation to ensure accuracy and alignment. This role serves as a key liaison between lending teams, builders, borrowers, and third-party stakeholders, supporting construction lending decisions through comprehensive budget analysis.

The ideal candidate brings strong residential construction expertise, exceptional attention to detail, and the ability to manage a high-volume pipeline while maintaining accuracy and service excellence.

This position is based in our Chicago/Logan Square headquarters. Qualified candidates should reside a commutable distance at the time of application and be available to work a hybrid schedule (3 days in-office/2 days remote).

Duties and Responsibilities

Budget and Project Review:

• Review, analyze, and validate residential construction budgets, plans, specifications, blueprints, and related project documentation
• Assess project feasibility through analysis of costs, timelines, materials, labor components, and construction methodologies
• Ensure budgets are complete, reasonable, and accurately reflect the proposed residential construction project
• Review and process a high volume of projects per month while maintaining quality and service standards
• Identify potential risks, budget gaps, or construction issues that could impact project completion or collateral value

Collaboration:

• Communicate findings, requirements, and deficiencies clearly and professionally
• Coordinate with internal stakeholders and builders to obtain reports, project specs, budget revisions, and supplemental documentation
• Provide timely feedback and recommendations to lending and risk management teams regarding project budgets and construction-related concerns

Pipeline Management:

• Effectively manage a high-volume pipeline of construction projects while meeting established SLAs
• Prioritize competing deadlines and maintain organized project documentation
• Contribute to process improvements as construction lending operations continue to expand and evolve

Experience:

• Experience in residential construction lending (required)
• Experience in residential appraisal, title, or collateral underwriting (preferred)
• Experience reviewing residential construction budgets, cost estimates, plans, or project documentation
• Experience managing multiple projects or a high-volume workflow
• Experience working with various residential property types
• Strong understanding of residential construction methods, sequencing, materials, and costs
• Ability to interpret construction drawings, blueprints, specifications, and site plans
• Knowledge of construction budgeting, estimating, and cost analysis techniques
• Proficiency with Microsoft Office Suite, particularly intermediate/advanced proficiency with Excel

Professional Competencies:

• Exceptional attention to detail and accuracy
• Strong organizational and time-management skills
• Ability to manage multiple priorities in a fast-paced environment
• Critical thinking and analytical problem-solving abilities
• Ability to identify inconsistencies and proactively resolve issues
• Sound judgment and decision-making skills

Communication Skills:

• Excellent verbal and written communication skills
• Comfortable engaging frequently with internal and external stakeholders via phone and video meetings
• Ability to build strong relationships with bankers, builders, borrowers, and business partners
• Professional presence with a customer-focused approach

Compensation:

• Annual base salary: $70,000 - $90,000

What We Offer:

• Medical, Dental, and Vision insurance plans
• HSA and FSA plan options
• Company-paid life insurance
• 401k with partial match
• Complimentary Employee Assistance Program (EAP)
• Paid time off that increases with tenure (40 hrs. sick time; 80 hrs. Your Time Off to start)
• 7 paid bank holidays
• Onsite garage parking for employees in Chicago office
• In-house virtual training opportunities to broaden your industry knowledge
• Education Reimbursement
• Employee Home Loan Discount Program
• Employee recognition on a national scale
• Frequent employee appreciation events
• Big bank capability, small-bank feel

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.