Documents

Documentation for Construction Loan

Basic Documentation

  • Clear copy of social security card & driver’s license
  • W2 for past two years
  • Personal tax return for past two years (all pages)
  • Bank statement for past two years (all pages even if blank page)
  • Pay stub for past two months

If self employed

  • Business tax returns for past two years (all pages)
  • CPA letter

Additional documents for constructions

  • Blue prints/construction plans
  • Estimated construction costs
  • Licensed Contractor
  • Building permit

Minimal loan amount is $500K (total value of land and construction work), and minimal down payment for construction loan is 30%. So minimum project cost of $714K

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