Documents Required for Construction Loan - ijaraCDC

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

 

If self-employed:

Business tax returns for past two years (all pages and needs to be signed)

CPA letter

 

Additional documents:

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