Are You Building Your Own Home? Acting as your own contractor? Using your own labor?

Most banks do not provide construction loans to individuals building
their own homes. At Owner Builder Loans LLC, this is the only thing we do.
Our loans are structured to be the way you’d want them to be…
Owner/Builder friendly.

Now Servicing: Arizona, Colorado, Michigan, Texas and Virginia

Loan Features

Build your house - your way! This is the easiest and most flexible construction loan available for a self-built home!
You are free to purchase materials from your favorite suppliers.
You can hire your favorite subcontractors.
You can use your own labor
Build from your own house plans, not ours.
You do not have to hire a licensed contractor or project supervisor to qualify for our construction loan.
  • 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 $400,000. Larger amounts will be considered on a case by case basis.

Qualification Requirements

  • Our minimum credit score is 725.
  • Our maximum debt-to-income ratio is 38%.
  • The construction loan amount cannot exceed 65% of your home’s future appraised value.
  • The minimum down payment is 35%. For example, if you want to borrow $100,000, you will need to have a minimum of $35,000 of equity in the land. Equity includes current land value plus any out of pocket money you have paid or intend to pay towards construction.

If you fall a little short in qualifying, please share with us all your details to see if we can make it easier for you to qualify. Sometimes, a cosigner can make all the difference. After the construction loan, the co-signer is released.

Testimonials

How would you like to pre-qualify?
It’s FREE!

Simply submit our Construction Project Summary
and we will contact you at your convenience.

Construction Project Summary