Construction Checklist
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