Building a house and need a construction loan? We can help! Here is what we would need from you in order to give you an estimate on a construction loan.
Architectural Plans & Project Specifications: Provide a detailed architectural plan going over every aspect of your construction project. Project specifications include – project timeline, floor plans, ceiling heights, varieties of home insulation, cost of wood used, etc. These plans also include an inventory of all building materials being used.
Sworn Construction Statement: This statement will include the name of suppliers and subcontractors involved in your project, as well as the budget for the project.
Loan Application: You are able to receive a HomeTown Bank loan application from one of our lenders. Contact your local branch to receive one in order to have it completed when you arrive.
Financial Checklist:
- Federal tax returns with all W-2 forms and k-1’s (last 2 years)
- Last 2 original pay stubs for all applicants (if paid weekly, 4 pay stubs are required)
- Bank statements for checking and savings accounts (last 2 months)
- Investment account statements – 401k, IRA’s, brokerage accounts, etc. (last 2 month)
- Most recent 1st (& 2nd) mortgage statements with complete loan numbers (if applicable)
In order to speed up your process, have your loan application completed with your financial documents and schedule an appointment with a lender. We would be happy to meet with you during this exciting time of your life!
