The Construction Loan Checklist: Documents to Gather Before You Apply

A construction loan file needs more than a normal purchase loan, because the lender is underwriting a home that does not exist yet. Expect to provide five groups of documents: you and your entity, the land, the plans and budget, the builder, and support for the finished value. Having them ready before you apply is the easiest way to speed up approval.

You and your entity

• Government ID for each owner or guarantor.
• Entity documents for the LLC, LP or corporation that will borrow: formation papers, operating agreement, EIN letter and proof the entity is in good standing.
• Authorization for a credit check.
• Recent bank or brokerage statements showing cash for equity, closing costs and carrying costs.
• A short resume of your real estate experience, with addresses and dates.

The land

• The signed purchase contract, or the deed if you already own the lot.
• A preliminary title report from the title company.
• A survey. RSC's New Construction program requires entitled land with a survey, so order one early if you do not have it.
• Zoning confirmation and any soil or environmental reports.

Plans, permits and budget

• Architectural plans and a site plan.
• Building permits, or proof they are in process.
• A line-item budget covering site work, hard costs, soft costs and contingency.
• A construction schedule with major milestones.

The budget is the most scrutinized document in the file. It should match the plans, line by line.

Your builder and your value support

• The signed contract with your general contractor (GC).
• The GC's license, liability insurance and workers' compensation proof where required.
• A list of comparable homes the GC has completed.
• Recent sales of similar new homes, or rent comps if you plan to hold.

Most lenders order their own appraisal for the after-completion value, but your comps help frame it.

When you send a scenario to RSC Private Lending, the documents typically requested are property details, the purchase agreement, a scope of work for rehab projects, proof of funds and borrower information. Having the rest of this list ready means fewer follow-up questions.

Example (illustrative numbers only): An investor submits a complete file on day one, including a 50-line budget, plans and permits in review. A second investor sends a one-page bid and promises plans later. The first file moves straight to appraisal and underwriting. The second spends weeks trading emails before underwriting can really begin.

What this means for you

Build your package before you need it. Use this list, put everything in one shared folder and label it clearly. A complete, organized file signals a well-run project and gets fewer conditions from underwriting.

Getting a construction file together? Send RSC Private Lending your scenario for a term sheet in 24 hours. All loans are business-purpose and subject to underwriting.