Construction Loan Article Center

Tuesday, May 29, 2007

17. What Will I Need to Show My Construction Lender in Order to Review My Loan Request?

Not only will your lender need standard credit documentation, but also, in order for your lender to see your vision as clearly as you do, your lender will want copies of the following:

1- Final architectural plans and specifications to obtain an appraisal.
2- Purchase contract for existing lot (or Closing Statement if you've closed the purchase transaction).
3- Description of Materials.4. Line item cost breakdown prepared by the contractor.
5- Your Contract with Builder.6. Copy of the contractor's license.
7- Builder's statement or application.

Don't forget: Get the necessary building permit for YOUR community!

<< Blog Home   << Previous Page   << Home