Construction Loan Schedule of Basic Requirements

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

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