Checklist
- Property
Address
- 1003 Uniform
Residential Loan Application
- Employment
Information
- If Full
Documentation - Tax Returns.
- Most Recent
Two Months Bank Statements.
- In Certain
Instances lenders will require upto 12
months bank statements and cancelled
checks.
- Proof of
Insurance
- Construction
Plans
- Cost Breakdown
- Builder resume
/ past job experience / bid.
- Land purchase
price.
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Residential
Construction Home Loans:
We consider residential construction
loans over $1,500,000.
Current programs include 18 month
construction loans that get rolled
over into permanent financing
without having to refi. For example
if you get a 30 Year Fixed at 6% the
first 18 months will be a
construction loan and after that it
will stay as a regular loan.
You want to make sure you allot
enough time on a construction loan
to not go over. Lenders charge an
arm and a leg for extension fees. We
recommend taking the maximum upfront
term. Even if your a contractor
yourself and think you can do it in
6 months. It will take 18 months.
Trust us its not worth the .5% per
month loan fee assessed on the
backend.
Call us at 310 765 7500 for more
information. |
