Today's Rates
(Based on National Averages)
30 Yr Fixed ##30Y_F##%
15 Yr Fixed ##15Y_F##%
1 Year ARM ##1Y_ARM##%
Fed Reserve Prim ##RED_RES##%
30 Yr Treasury Bond ##30Y_TRE##%

>> Construction Checklist

Construction. Documents, Timeframe and Fees.

Timeframe.

  • Up to 4 weeks

    Closing costs.

  • Closing costs range between 1 and 4 % of loan amount

    Documents needed for Construction loan

  • Plans & Specifications for the proposed construction completed by atchitect (Final two copies signed & dated by borrower and contractor
  • Purchase contract or agreement for lot if lot has been purchased within the past 12 month or if it will be purchased as a part of this transaction
  • HUD-1 Closing Statement provided by the closing agent if property was purchased within the past 12 month
  • Copy of Listing Agreement on current residence to be sold
  • Architect Agreement
  • Copies of any approvals from city/county/homeowner's association
  • Fixed Price Construction Contract
  • Cost-Breakdown
  • Discription of Materials
  • Builder's Resume
  • Builder's Liability Insurance + Bond
  • Builder's Licence

    		•
     
      © 2006 Island Home Capital