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Ground-UP
Construction

We’re great at Ground-Up Construction for investors. We do require at least some successful Flip experience, but our easy programs make us the go-to place when you want to build single-family investment homes or small-to-medium sized multi-family. 

CASTLE ROCK'S GROUND-UP
CONSTRUCTION PROGRAM

Ground-up construction is a different animal than a conventional-style loan. Very few lenders have the experience to make the loan as smooth as possible. After 32 years, we’ve gotten pretty good at it.

These loans are backed by Wall Street-style hedge funds and they have very strict parameters and processes. This email will give you a very accurate laundry list of the items we’ll need to bring this across the finish line for you.

HERE'S WHAT WE'LL NEED FOR APPROVAL...

DOWNLOADS AND LINKS

EXPERIENCE TRACKER
PERSONAL FINANCIAL STATEMENT
W-9 Form

BORROWING ENTITY INFORMATION:

  • PURCHASE AGREEMENT FOR PROPERTY OR THE SETTLEMENT STATEMENT FROM THE PURCHASE OF THE PROPERTY:
  • ENTITY INFORMATION: We will need the following information on the entit
    • Copy of Articles of Formation (LLC)/Incorporation (Corp)
    • Copy of fully executed Operating Agreement/Partnership Agreement (all pages & amendments)
    • Certificate of Foreign Qualification (if applicable)
    • Certificate of Standing
    • Meeting Minutes or Unanimous Consent showing that you have the authority to purchase the property and take out the loan. 
  • IRS EIN FORM (SS-4): We’ll need a copy of the form that the IRS provides when you get your tax ID (EIN) number when you first set up the entity.
  • EXPERIENCE TRACKER/WORKSHEET: We’ve uploaded a spreadsheet for you to use, but we do need to get an idea of your experience at doing similar projects. If you have a similar form already completed, that will usually work as well. SEE DOWNLOAD
  • W-9 FORM FOR THE ENTITY
  • CONTACT FOR THE TITLE COMPANY
  • CONTACT FOR YOUR INSURANCE AGENT
  • CONTACT FOR AN APPRAISER (or we can get one for you)

GUARANTORS: For each owner of the borrowing entity, we will need the following:

  • GUARANTOR APPLICATION(S): Please visit our guarantor link (each guarantor separately), create a password, and then fill out the application the best you can. Keep in mind that this was designed for consumers and not for investors, so there is no need to complete the employment or income areas. If you get to a point where you are unsure of what to put down, please just put an X or a 1 in the slot. We’ll clean it up later. One each guarantor has completed the application, the system will automatically send you an email from me asking for items. Ignore this and wait for me to get with you. The system is set up for consumers, not investors, so that email will be inaccurate. SEE LINK BELOW
  • DRIVER’S LICENSE: We need a legible picture or PDF of both the front and back of each guarantor’s driver’s license.
  • BANK/BROKERAGE STATEMENTS: We’ll need the past 2 months of the entity and each guarantor’s bank and brokerage statements complete with all numbered pages. Please ensure these are legible and not screen shots of someone’s on-line banking.
GUARANTOR APPLICATION LINK

ITEMS FOR THE CONSTRUCTION:

  • ALL ARCHITECTURAL PLANS
  • PERMITS
  • GC CONTACT INFORMATION: Name, address, company name, email address, phone number.
  • GC LICENSE, GS DRIVER’S LICENSE, AND EXECUTED CONTRACT FOR THE GC
  • SIGNED W-9 FOR THE GC (SEE DOWNLOADS)

Once we get all of these items, there is a lot more that we’ll be doing behind the scenes to get this loan wrapped up for you.

 

Castle Rock Capital Funding, LLC (NMLS 2318381) is a Florida LLC owned by Douglass Smith, Licensed Mortgage Loan Originator (NMLS 1984040).  

About Us

A family owned company; we’ve been helping residential and commercial clients purchase and refinance property.  Please click on About in the headers to learn more.

Company NMLS: 2318381
www.nmlsconsumeraccess.org

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