skip to main content

Construction Loan Requirements

Construction Loan Requirements


  • Property must be located in the State of California
  • An appraisal is required based on construction plans, cost breakdown and description of materials
  • Property must be free and clear of all liens, or lien must be paid in full with first draw
  • Property must have legal access.
  • No secondary financing is allowed
  • Must use an approved AltaOne Contractor (No owner builders)

You will need:

  • Construction plans
  • Cost breakdown and description of materials from the builder
  • Copy of the construction contract fully executed by all parties
  • Course of construction insurance policy
  • Letter of Indemnity between borrower and the title company providing title policy will be required

Loan Details:

  • Maximum loan amount is up to 90% of the appraised value or total cost of construction, whichever is less
  • Minimum loan amount is $25,000.00
  • Maximum term is 12 months
  • Required 1 point (1% of loan amount) due at closing
  • Interest only monthly payments based on the current balance
  • Minimum of 6 months PITI (Principle, Interest, Taxes, Insurance) payments and estimated closing costs for Take-Out financing required reserves
Apply Now