Why
Choose Us?

Through our construction loan program we have been helping do-it-yourself home builders realize their dreams for over 20 years. We know what it takes to successfuly build your own home and have crafted our loan to meet your specific needs as an owner builder.

Compare our loan with the typical construction/ permanent loan and see what makes our program so successful:

Money When
You Need It

The typical Construction/Permanent Loan was originally created for general contractors. It begins as a construction loan that distributes 4 to 6 draws during the construction process, and at completion of construction the loan converts to a permanent mortgage. To qualify for this loan, the builder has to have a track record and in some states they have to be licensed. Now, due to increasing demand, more and more banks are loosening their requirements, and making these construction/permanent loans available to individuals. But how does an individual build a house with a contractor's construction loan that provides only 6 checks? It's tough.

At OBLS we have a proven program designed to provide construction loans for individuals only, not for general contractors. Our customers average 75 to 150 draws per loan, and there are no draw fees to discourage you from requesting as many draws or checks as you need.

Keep Your
Money -
Use Ours

Most construction/permanent loans require you to use your own money first — before you get a draw.

We don't. At OBLS, you can get the money up front to purchase your permits, materials, labor, and site improvements. When you need a draw from us, there's no waiting.

Fast Money

Why should it be such a big deal if you can get a draw check from OBLS right a way, or longer from someone else?

Let's look at this another way. If you have two people to work for, one pays you right away, and the other pays you once a month, which one would you work for first? Keep in mind your house is just one job to a subcontractor, and he knows the likelihood of you giving him another job is slim. So what does he have to gain by giving you the same kind of service he gives his general contractor who gives him multiple jobs? His gain is your ability to pay him immediately upon completion. This is something very few general contractors are able to do.

Refinance
at the
Best Rate

Does your construction lender require you to refinance with them when construction is complete?

This sounds convenient but wait. When it is time to convert the construction loan to a permanent mortgage, how can you be sure the lender's interest rate will be the absolute lowest rate available? If saving money is what building your own home is all about, you don't want to be locked into refinancing at a potentially higher mortgage rate. It doesn't make sense. That is why at OBLS you are free to refinance with the lender of your choice.

Time is
Money

Still uncertain which construction loan is best for you?

Consider this. Two different carpenters, both equally experienced bid on your house. Carpenter A gives you a bid of $9,000 to frame your house. Carpenter B gives you a bid of $10,000 to frame your house. Common sense tells you to use Carpenter A. But wait. Carpenter A says it will take him 3 to 4 weeks to frame your house because he has a small crew. Carpenter B says it will take him only a week to frame your house because he has a much larger crew. Now, which carpenter are you going to hire? For the same reason that you pick Carpenter B, you should pick Owner Builder Loan Services for your construction loan needs.