Documentation Required For a Construction Loan  

• Executive Summary (including complete property history or story)
• Financial Projections / Proforma Operating Statement
• Detailed Rent Roll showing any future leases/Current Sales
• Cost Breakdown including land cost
• If land is owned - Year Purchased and Purchase Price
• Property Equity Statement & List of Property Entitlement/Improvement Costs
• List of Entitlements Completed with Date of Completion
• Site Plan and Property Location Map
• Property Description/Rendering
• Most recent MAI Appraisal, if available
• Borrower/Principal Description
• Borrowers resume including history of developing similar properties
• Borrowers Personal Financial Statement
• NOTE:
• Net worth should be equal to projects total cost
• Borrower should have 10% of projects cost in liquid reserves
• Lender generally required 50% pre-lease/pre-sold prior to funding