New Construction Loan Checklist

Wells Fargo Home Page.

You may need to provide these documents during your construction loan application process.

lightbulb icon.If you have a question about a document, print this checklist and write the question in the Notes and Reminders space below. See Documents and Definitions to learn more about terms in bold-faced type.

Income verification — salaried

__ Pay stubs for the most recent 30-day period for each applicant

__ Most recent W-2 statements for each applicant

Income verification — self-employed

__ Complete, signed federal tax returns for the last two years, including schedules and statements (If your company is incorporated, provide corporate returns as well.)

__ A copy of an extension to file, if applicable

__ Year-to-date profit and loss statement if after June 30

Other income sources

__ Verification of secondary income — alimony, child support, disability or retirement income, or separate maintenance agreements

__ Copies of any leases and two years of federal tax returns on any rental properties you own

Deposit verification

__ All pages of checking and savings account statements from the most recent 30-day period

__ All pages of asset account statements from the most recent 30-day period (Internet screen prints generally are not acceptable.)

__ Gift letter or evidence of the sale of your previous home, if applicable to your situation

__ Verification of large deposits

Construction and builder documents

__ Construction plans and specifications

__ Fully executed purchase/construction contract for all work

__ HUD1 settlement statement from the purchase of the land if the purchase occurred within the past 12 months

__ Deed for land if owned for less than 12 months

__ Name, phone number, and address of builder and preferred settlement agent — title company, attorney, or escrow agent

__ Certification for any private well or septic system

__ Verification of deposits to your builder and/or land seller, such as a copy of a certified check

__ Verification of Wells Fargo or affiliate deposit account

Wells Fargo Home Mortgage will order a full appraisal of your property. Any post-appraisal change orders may cause a delay in construction loan closing and the start of construction.
Notes and Reminders