At Live Oak Bank, we specialize in construction financing, offering a partnership that extends beyond the loan closing. Our dedicated construction loan team is your partner from the moment your loan closes, all the way to the day you open your doors for business. We work closely with your approved contractors and architects, offering expert funding guidance on all construction-related items.
Construction Loan Experts
Preparing For Your Construction Loan
Important Documents for Your Live Oak Bank Construction Loan
Construction Documents
This document provides a comprehensive guide to Live Oak Bank’s construction loan process. It outlines the necessary documentation, discusses contractor selection and details credit enhancements and contract requirements. A detailed glossary of key terms is also included.
Construction Loan Checklist
At Live Oak Bank, we strive to keep you prepared and informed through each stage of your construction loan. Download the checklist provided to begin preparing for the high-need documents needed to close your construction loan.
Construction Payment Policies and Processes
The Construction Payment Policies and Processes resource outlines Live Oak’s streamlined approach for construction loan payments and disbursements. The document is ideal for borrowers looking to understand the process, ensuring a smoother and more efficient funding experience.
The Importance of General Contractor Selection
This document provides essential guidance on selecting a general contractor and lists Live Oak Bank’s preliminary qualification requirements. The resource is designed to help borrowers make an informed decision and streamline the loan process.
Credit Enhancements
Live Oak’s Credit Enhancement resource outlines credit enhancements that may be required for a construction loan. This resource describes how enhancements provide an extra layer of protection for the lender and help potential borrowers prepare for the loan process.
Contract Requirements
Live Oak Bank’s resource on construction contract requirements provides a clear framework to help borrowers ensure their contracts meet all necessary criteria before signing. By following these guidelines, borrowers can streamline their loan process and avoid potential delays.
Required Documentation for Construction Payments/Draws
This document provides a detailed checklist for general contractors, outlining the specific documentation required for all construction draws. Download this resource to ensure you have all the necessary paperwork for a smooth payment process.
Contract Types
Live Oak’s Contract Type chart outlines three common construction contract types: Cost Plus, Stipulated Sum/Fixed Price and Design-Build. This document helps borrowers understand the features of each, ensuring their contract meets bank requirements.
Glossary
This document is a comprehensive glossary of construction terms. It defines key terminology related to construction projects, contracts and financing, helping construction loan customers understand the language used throughout the loan process.