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