Construction loans require standard income, asset, and credit documentation plus a builder and property package — executed contract, detailed cost breakdown, plans and elevations, builder license and insurance, permits timeline, lot docs, and an appraisal. VA files also need a Certificate of Eligibility. Expect more paperwork than a resale purchase.
Your personal financial documents mirror a standard purchase — pay stubs, W-2s or tax returns, bank statements, and credit authorization. The difference is everything tied to the build: who is constructing the home, what it will cost, and what it will look like when finished.
The lender needs an executed builder contract, line-item cost breakdown, architectural plans and elevations, builder license and insurance certificates, and a W-9. A permit timeline shows when construction can legally begin. Lot documents — title commitment, survey, and deed — confirm you own or will own the land.
An appraisal based on plans and specs establishes as-completed value. VA construction files require a Certificate of Eligibility. Ryan and Steve send a program-specific checklist so you are not scrambling for documents at the last minute.
Organize your file into four buckets to keep the process moving.
Pay stubs (30 days), W-2s or two years of tax returns, two months of bank statements, photo ID, and signed credit authorization. Self-employed borrowers add business returns and a year-to-date P&L.
Executed construction contract, detailed cost breakdown tied to draw milestones, builder license, general liability and workers comp insurance, and W-9. The lender verifies the builder before approving the file.
Architectural plans, elevations, and material specifications. A permit timeline or approved permits from the local building department. Change orders during construction require lender approval and updated documentation.
Title commitment, survey, lot purchase agreement or deed, and plans-based appraisal. VA construction requires a COE. FHA and conventional each have program-specific add-ons Ryan and Steve outline upfront.
Start gathering builder and property docs early — they take longer than pay stubs.
Step 1
Income, asset, and credit documents go to Ryan and Steve first — same as any purchase pre-approval.
Step 2
Get the executed contract, cost breakdown, license, insurance, and W-9 from your builder before underwriting starts.
Step 3
Architectural plans, survey, title, and permit timeline complete the construction file for lender review.
Step 4
Plans-based appraisal confirms as-completed value. Once all conditions are met, you close and construction funds are ready for draws.
Related guides on builder rules, land purchase, inspections, and fit.
Owner-builder rules and why most lenders prefer licensed GCs.
Financing lot purchase and construction in one loan.
Draw milestones, city inspections, and final CO.
Good-fit scenarios and when to consider other options.
2MG Daily
Recent articles on construction financing and new-build planning.
May 12, 2026 • 2MG Daily
Read article →
Jul 21, 2026 • 2MG Daily
Read article →
You provide the same income, asset, credit, and identity documentation as a purchase loan — pay stubs, W-2s or tax returns, bank statements, and authorization to pull credit. Construction adds a significant builder and property paperwork layer on top.
Expect an executed builder contract, detailed cost breakdown and specifications, builder license and insurance certificates, and a W-9. The lender verifies the builder is qualified before approving draws.
Most lenders require approved architectural plans, elevations, and a permit timeline before closing. Lot documents — title, survey, and deed — are also standard. VA construction files need a Certificate of Eligibility (COE) as well.
Yes. A resale purchase relies on an existing property appraisal. Construction financing underwrites a home that does not exist yet — so plans, specs, builder credentials, and cost breakdowns are all part of the file. Ryan and Steve provide a checklist tailored to your program.
Ryan & Steve send a program-specific document list — borrower, builder, and property — so you know exactly what to gather before your construction loan closes.