Checklists · Before you apply for financing
Financing documents
What a lender asks for on a HELOC, cash-out refinance, or construction loan, so the money is ready when the permit is.
Income and identity
- Two years of tax returns and W-2s or 1099s
- Two most recent pay stubs, or two years of P&Ls if self-employed
- Two months of bank and investment statements
- Government ID for every borrower
The property
- Current mortgage statement
- Homeowner's insurance declarations page
- Most recent property tax bill
- Estimated current value (the lender will order an appraisal)
The project
- Bayfront's written fixed-price proposal and scope
- The plans, once drawn (a construction loan lends against the finished value)
- A draw schedule (construction loans release funds in stages)
- Contractor licence and insurance certificates (we supply these)
- Your own contingency plan for the 10–15% the model holds for what the ground turns out to be