Acting as an Owner Builder?
Using your own labor and subcontractors?
We specialize in 12-month self build construction loans, also known as owner builder loans. We do not require you to hire a general contractor. Monthly payments are interest only and are calculated from the date of each draw. Upon completion, you will refinance through your favorite mortgage lender. There is no prepayment penalty, and its ok if you have already started construction.
To get started, simply fill in our Qualification Questionnaire. We will then reply with our free evaluation including loan costs and application instructions.
Loan FeaturesSelf Build your house – your way. This is the easiest and most flexible construction loan for any one building their own home!
- No application fee and no credit report fee. This means you can find out if you qualify, and if you do, what the conditions and terms will be without incurring any charges.
- Our construction loans are for 12 months with no pre-payment penalty. Extensions are available. Upon completion you will refinance through your preferred mortgage lender.
- Unlimited draws are provided with no draw fees, or inspection fees.
- Construction draws can be ordered up front prior to completion of work. They are then mailed to you to deposit into your checking account, usually within one business day. From there you will pay your suppliers and sub-contractors.
- It’s ok if construction has already started.
- Loan amounts up to $500,000.
- The Minimum Down Payment Requirement is equal to 35% of your Total Cost of Project
$100,000 Current value of the dirt
+ $200,000 Cost of construction and site improvements
$300,000 Total Cost of Project
$105,000 Required Down Payment
In this example, the borrower needs to possess $105,000 of down payment prior to receiving $195,000 in construction funds.
The down payment is defined as today’s current value of the dirt, less any money you owe for it, plus the cash you have paid or intend to pay towards construction prior to closing on your construction loan.
Exceptions for a down payment less than 35% may be possible for those with a credit score of 775 or higher.
- Minimum Credit Score requirement is 725. Exceptions for lower scores may be possible for those with a down payment higher than 35% equity.
- Other Requirements exist.
For a free assessment of your qualifications, please submit our Qualification Questionnaire. Our reply will include loan features, all requirements and loan costs.
We promise to be as flexible as possible!
“Thanks for making our dream come true.”Read More Owner Builder, S.W & D.W.
“I wanted to thank you guys again for helping me achieve my dream, which I had since I was a small child, you guys are truly God sent for opening an avenue which I needed and made it possible to pave the way. Thanks for believing in our dreams. I hope I can work with you guys in the future, as I have more dreams to fulfill and will definitely be reaching out to Fred soon to discuss. Keep up the Great Work and let me know if you guys need anything from me. IT WAS ALL A DREAM, BUT…”Read More Owner Builder, R.J & S.J.
“My in-law’s rent was going up and up and my wife and I couldn’t find affordable housing for them. I’ve been a builder my whole life and we had some money set aside, so building a small house for them seemed like a great plan. Unfortunately, I couldn’t find a bank willing to finance it. They all seemed to want me to finance 90% of the project before taking their cut. Owner Builder Loans was not only willing to finance a much larger portion of the project than anyone else, they were happy to offer advice on how to make…”Read More Owner Builder, T.W.
” Owner Builder Loans gave me the opportunity to build my family a beautiful home in a short time. Very great to work with! Hope to work with them again soon.”Read More Owner Builder, S.P.
How would you like to find out if you prequalify?
There is no obligation and takes only a minute.
This questionnaire is for conversation purposes only. It is not an application and will not enable us to pull your credit report.Qualification Questionnaire