Building Capital, Inc. - Construction Loan Package Checklist - Spec - General Contractor/Builder

Sep 11, 2026

Uploaded by Putri

Construction loan package checklist for Building Capital, Inc. outlining the documents borrowers must provide to start and complete an interim construction loan process and obtain long-term financing. Covers required financial information, disclosure and authorization forms, construction project details (cost estimates, plans, permits, timelines, insurance), and long-term loan closing items (notices, as-built survey, final inspections, energy certification, and lien waivers). Includes guidance on common risks, contingency planning, and the option to engage a general contractor.

LanguageEnglish

CategoryForms

FormatPDF

Pages14

Reading Time5 min

AccessFree to download

Financial Information

Disclosure and Authorization

Construction Information

Course of Construction and Long-Term Loan Items Needed

During the Construction Loan Process

Prior to Long Term Loan Closing

Construction Lending

Authorization to Obtain Credit and/or Payoff Information

CONSTRUCTION LOAN PACKAGE CHECKLIST The following items will be needed by Building Capital, Inc. to begin the construction loan approval process: FINANCIAL INFORMATION: Personal financial statement {Application} Pay stubs for the previous 30-day period Prior two year’s tax returns {With W-2’s} Last two months account statements {Checking, savings, stocks, & bonds} Prequalification letter {For long termfinancing} Self-employed borrowers with {Corporations, partnerships, LLC’s,LLP’s} • Business tax returns for the previous two years • Current balance sheet and profit and loss statement • Copy of valid photo identification DISCLOSURE AND AUTHORIZATION: Authorization to obtain credit information Consumer construction loan notice Notices and Disclosures for In-house Real Estate Loans CONSTRUCTION INFORMATION: Estimate of construction costs {with supporting bids} Plot plan Materials description form Blueprints / plans {two sets} General Contractor/Builder resume Site Supervisor resume {If applicable & is managing the project} Copy of General Contractor’s license, business license, & residential endorsement List of sub-contractors and suppliers Construction timeline Earnest money agreement on lot {If applicable} Proposed energy rating {Heat loss analysis} Soils and percolation test {If applicable} Zoning classification, architectural and CCRrequirements Well log and septic permit {With health authority approval} Utility services {Available at the site} Appraisal {“As proposed” credit union will order} Proof of insurance {Hazard w/ course of construction or builders risk endorsement} Prior to closing Other: | | COURSE OF CONSTRUCTION AND | | --- | --- | | LONG-TERM LOAN ITEMS NEEDED
The following items will be needed during the course of the construction loan and shortly after the construction is completed to provide the long-term financing for the project:
DURING THE CONSTRUCTION LOAN PROCESS:
• Disbursement request forms {To pay for sub-contractors and suppliers}
• Invoices {Save all invoices, may need to produce them during or after the construction loan}
• Lien waivers {if applicable}
• Lender construction inspections {The Lender will and/or reserves the right to make regular onsite inspections prior to construction disbursements}
• Building inspections {Municipal inspections or ICC inspections will be required for the project} The areas to be inspected are:
~ Plans and specifications
~ Footings and foundation
~ Rough in framing, plumbing, and electrical
~ Insulation and vapor barrier
~ Conditional
~ Final
PRIOR TO LONG TERM LOAN CLOSING:
• Notice of completion {Generally filed 15 days prior to long term loan closing}
• As-built survey
• Final appraisal {Photos, recertification of value, [completion of misc. work](completion of misc. work})[}](completion of misc. work})
• Final municipal or ICC inspection form
• Final thermal / energy certification
• Lien waivers {if applicable}
• Homeowners insurance binder / policy {Mortgagee clause}
• Any investor {Long term loan} special conditions satisfied
• Escrow for completion {Seasonal related items due to weather, no health and safety issues allowed}
ADVISORY NOTE:
This loan package has been assembled to assist you in understanding the complexity of an interim construction loan and to make it as easy as possible for you to gather the required documentation and knowledge to engage in this endeavor. Please be aware that the biggest pitfall in the interim construction process is the underestimating of both the costs and time involved to complete the project. Uncontrollable events and untimely delays will probably impact your project at some point. Having the adequate contingency built into the process for both cost and time overruns will be of paramount importance. You will also be required to have a sizable inves

FAQs

What financial documents are required to begin the construction loan approval process?

Personal financial statement, pay stubs for the prior 30 days, prior two years’ tax returns (including W-2s), last two months’ account statements, and a prequalification letter. Self-employed borrowers must also provide applicable business tax returns and current financial statements such as a balance sheet and profit and loss statement.

Which construction project items are needed for underwriting and review?

The package calls for an estimate of construction costs with supporting bids, plot plan, materials description form, two sets of blueprints/plans, general contractor/builder resume, site supervisor resume (if applicable), and copies of the general contractor’s license and business/residential endorsement. It also includes a list of subcontractors and suppliers, a construction timeline, zoning/classification requirements, well log and septic permit (if applicable), soils and percolation test (if applicable), utility information, and an appraisal.

What must be provided prior to long-term loan closing?

A notice of completion (generally filed 15 days prior), as-built survey, final appraisal supported by photos and recertification of value, and final municipal or ICC inspection form. It also requires final thermal/energy certification, lien waivers (if applicable), homeowners insurance binder/policy with mortgagee clause, any investor special conditions being satisfied, and escrow for completion of seasonal or weather-related items.

Sep 11, 2026

Uploaded by Putri