Essencap offers construction loans for owner business occupant, apartment and condo construction projects. Please find our checklist requirement below.

1) For investor greater than 20% ownership,

• Please fill out the attached 1003 application.

• 3 years of tax return (both personal and business (if the borrower own any other business)

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2) Debt schedule per attached

3) Please provide a project summary

• Budget

• Land acquisition cost

• The hard cost of material

• All legal, architecture, and labor cost.

• Down Payment Amount

• A brief explanation of the timeline 

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4) Description of the project,

• # of the unit, price point, permit status…etc.

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5) Exit Strategy

• Rental rate – need projected rental roll

• Sale Price – need projected sale price

• Need comps 

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6) Builder / Investor resume

7) An estimate of the borrower's credit score. Any credit condition that we need to aware of.

8) Any recent appraisal /environment report