Construction Loan Application

Construction Loan Application Checklist

Items required to order an appraisal:

• 2 complete set of architectural plans, including a plot/site plan (signed/dated by builder and borrower)
• 2 copies of the description of materials and specifications (signed/dated)
• 2 copies of the cost estimate (signed/dated)
• Fixed-price construction contract (signed/dated)
• Acknowledgement of any pre-paid construction costs, along with copies of receipts (signed by builder and borrower)
• Legal description of the property and purchase contract/details of purchase
• Septic permit (if applicable)
• Well report (if applicable)

Documents required before loan closing:

• Contractor’s license
• Building permit
• Contractor’s IRS certification
• Proof of liability/hazard insurance, including course of construction coverage

Please note: Your builder/contractor must be approved by Washington Federal and will be asked to provide documentation.