Documents Required for Construction Loan
Applicant : Documentation
Clear copy of social security card & driver’s license
W2 for past two years
Personal tax return for past two years (all pages and needs to be signed)
Bank statement for past two years (all pages even if blank page)
Pay stub for past two months
Business tax returns for past two years (all pages and needs to be signed)
CPA letter
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
