ConstructionLoansFAQ.com

                               

 
 
   
 


If the borrower is an owner/ builder:


    ·  Final Draw Request  
     ·
  Affidavit from borrower stating all material providers and subcontractors have been paid in full
     ·
  Copy of recorded Notice of Completion (if applicable) and a Certificate of Occupancy
     ·
  Evidence of current homeowner's insurance  
     ·
  Final Progress Inspection    
     ·
  Borrower's mailing address and e-mail address for future correspondence.
 

If the home was built using a general contractor:

     ·
  Final Draw Request  
     ·
  Affidavit from the general contractor stating all material providers and subcontractors have      been paid in full  
    ·  Unconditional Lien Waiver Upon Final payment signed by the general Contractor  
    ·
  Copy of recorded Notice of Completion (if applicable) and a Certificate of Occupancy.
    ·
  Evidence of current homeowner’s insurance  
    ·
  Final Progress Inspection  
    ·
  Borrower's mailing address and e-mail address for future correspondence
 

In addition, the loan must be in good standing according to the terms of the Construction Loan Agreement.  Once the final Draw Request has been funded, the construction loan will be rolled into a permanent loan.


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