Construction Loan Agreement Form
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How to draft a proper Construction Loan Agreement Form? Download this Construction Loan Agreement Form template that will perfectly suit your needs!
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Notary Signature Notary Printed Name Notary Public State of Qualified in the County of My commission expires: Official Seal: MULTISTATE CONSTRUCTION LOAN AGREEMENT – Single-Family—Fannie Mae HOMESTYLE MODEL DOCUMENT Form 3735 11/01 (page 9 of 16 pages) EXHIBIT A LEGAL DESCRIPTION OF PROPERTY MULTISTATE CONSTRUCTION LOAN AGREEMENT – Single-Family—Fannie Mae HOMESTYLE MODEL DOCUMENT Form 3735 11/01 (page 10 of 16 pages) EXHIBIT B SCHEDULE OF ADVANCES Borrower’s Name Property Address Lender’s Name Address Construction Item Total Cost Borrower Equity Loan Commitment Amount Holdback Advance Amount First Advance – Stage 1 Closing Purchase of Property Payoff lien(s) on Property Closing Costs Interest Reserve (to be disbursed as provided in the Construction Loan Rider to Note) Monthly Payment Reserve (to be disbursed as provided in Section 2.8.4.6 of this Agreemen.) Prior Work First Advance Total Second Advance – Stage 2 Site Prep and Utility Service Drilling and Installation of water well or hookup to public water supply Installation of private septic system or hookup to public sewer system Grading of Property Install electric service Install gas service Excavation of basement Construction of foundation Driveways Walks Other site improvements (specify): OR: Work is complete Second Advance Total MULTISTATE CONSTRUCTION LOAN AGREEMENT – Single-Family—Fannie Mae HOMESTYLE MODEL DOCUMENT Form 3735 11/01 (page 11 of 16 pages) Construction Item Total Cost Borrower Equity Loan Commitment Amount Holdback Advance Amount Third Advance – Stage 3 Framing Utility Hookup and Enclosing Framing Roof Exteriors Plumbing Electrical Heating Masonry Siding Gutters/Downspouts OR: Work is complete Third Advance Total Fourth Advance – Stage 4 Interior Doors (Ext.) Doors (Int.) Partition Wall Plaster/Drywall Stairs Closets Painting (Ext.) Weather strip Insulation OR: Work is complete Fourth Advance Total MULTISTATE CONSTRUCTION LOAN AGREEMENT – Single-Family—Fannie M
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