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Construction Loan Schedule of Basic Requirements

  1. Completed Loan Application Package
  2. City map
  3. Appraisal
  4. Aerial photos (for commercial loans only)
  5. Street and property photos
  6. Survey of site
  7. Feasibility study
  8. Detailed construction plans (3 sets with plans and specs)
  9. Cost data on contemplated construction
  10. Architects contract
  11. Resume and brochure of architect
  12. Construction contract
  13. Resume and brochure of contractor
  14. Developers financial statement
  15. Resume for each guarantor
  16. Guarantors personal financial statements
    ie: 2 years income statements and balance sheet)
  17. Banking reference for each borrower and each guarantor
  18. Articles of partnership or articles of incorporation
  19. Hotel chain affiliation agreement
  20. Management contract and firm brochure
  21. Copies of Notes and Mortgages on existing loans
  22. Pro-forma projection: 1 year by months and balance by quarters to end of stabilized year
  23. Rent/income and expense statement
  24. Rent control laws
  25. Credit report
  26. Letter of intent for use of funds

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