Lenders will typically require proof of income, tax returns, bank statements, and a detailed budget for the construction project. Most loan officers with the banks, require owner-builders to submit an itemized estimate in order to secure a construction loan.Submit a detailed loan application with all necessary documentation, including building plans and cost estimates. 4. Appraisal and Underwriting. Use this tool to review your Loan Estimate to make sure it reflects what you discussed with the lender. Learn more about new construction loans and what to consider when looking to finance your dream home with help from U.S. Bank. Are you interested in obtaining a construction loan for building or improving a home? Commercial construction loans finance the cost of building or renovating commercial real estate buildings.