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Construction Loan Application Requirements

Thank you for considering Bank of Canton to assist you with your construction loan financing needs.  If you have not already done so, please contact a member of our Construction Lending Team and request a copy of Bank of Canton's construction loan application.  Upon receipt, please complete the application, making sure you've signed both the third and fourth pages, and return it to your construction lending contact at the Bank, who will send you a Good Faith Estimate, Truth-in-Lending Dislosure, and other related disclosures.

If, after reviewing all estimates and disclosures, you intend to proceed with Bank of Canton for your construction financing needs, then please submit the following to the Bank:

• A copy of your Purchase & Sales agreement if your lot is being purchased or a copy of your Deed (if your lot is owned).
• Copies of signed personal Federal and State tax returns (including business schedules, if applicable) for the past two years.
• Copies of your most recent bank and investment account statements.
• Copy of all plans and specs (if available).
• Copy of construction contract or project budget.
• A check in the amount of $350 payable to Bank of Canton to the cover the cost of an appraisal (a copy of which you are entitled to) and a flood certificate.

We understand that assembling all of this paperwork is time consuming and we certainly appreciate your cooperation.

 

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Investment products and services are offered through INFINEX INVESTMENTS, Inc. Member FINRA/SIPC. Insurance products are offered through Infinex Insurance Agency of Massachusetts, Inc. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.