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Building a new home or renovating an existing home?
Oregon Construction Loan Banc's One Time Close Loan program option is an attractive home construction loan that actually does the work of two loans; once your home construction is complete, your loan becomes your permanent mortgage.
That means paying closing costs only once and qualifying only once. Lending off of the future appraised value is an option that could lower or eliminate your need for a down payment. Available for conforming loans down to a 620 credit score.
• 5.5% One Time Close Construction Loan Program for loans up to $2million.
One Time Close Construction loans down to a 620 Credit Score
• Fixed and adjustable rate mortgage options
• Stated Income loans
• Zero down options, based on Future Appraised Value of the Home
• Have you started a build on your own funds and run out of money?? Give us a call.
** NEW OWNER BUILDER PROGRAM - full doc program
BUILD YOUR OWN HOME; you DON'T have to be a licensed builder; Interest Only during the build; Fixed rate loan; primary or 2nd home; can lend based on the Future Appraised value!! One Time Close Loan, 12 months to build, then converts to permanent loan; only have to qualify, close, and pay 1 set of closing costs. Finance land, home and closing costs based on the Future Appraised value of the property; land equity counts toward your down payment
*** OWNER BUILDER Program / Stated Income--
with a rate as low as 4.99% up to 85% loan to cost, NO contractor license required (interim loan only) stated income, stated asset, no debt ratios calculated, no pre-payment penalty, new construction only. You don't have to be a builder to qualify for this loan and can be your own construction supervisor!
*** SPEC HOME Program---
construction loans for Builders and for NON-BUILDERS with fixed rate as low as 5.99% up to 80% loan to cost; stated income, stated asset, no debt ratios calculated, no pre-payment penalty (interim only) You don't have to be a builder to qualify for this loan and can be your own construction supervisor!!
*** CUSTOM HOME Program--
with a fixed rate as low as 3.99% to 90% loan to cost (interim only) Stated income, stated asset, no debt ratios calculated, no pre-payment penalty
• Second home construction loans
** Lending off of the FUTURE APPRAISED VALUE in most cases
*Renovation loans for both Purchases and Refinance situations / If you already own the home, may be possible to finance 100% of the costs, call for details
Commercial construction and Commerical loans
Member National Assocation of Home Builders
Oregon Construction Loan Banc's One Time Close Loan program option is an attractive home construction loan that actually does the work of two loans; once your home construction is complete, your loan becomes your permanent mortgage.
That means paying closing costs only once and qualifying only once. Lending off of the future appraised value is an option that could lower or eliminate your need for a down payment. Available for conforming loans down to a 620 credit score.
• 5.5% One Time Close Construction Loan Program for loans up to $2million.
One Time Close Construction loans down to a 620 Credit Score
• Fixed and adjustable rate mortgage options
• Stated Income loans
• Zero down options, based on Future Appraised Value of the Home
• Have you started a build on your own funds and run out of money?? Give us a call.
** NEW OWNER BUILDER PROGRAM - full doc program
BUILD YOUR OWN HOME; you DON'T have to be a licensed builder; Interest Only during the build; Fixed rate loan; primary or 2nd home; can lend based on the Future Appraised value!! One Time Close Loan, 12 months to build, then converts to permanent loan; only have to qualify, close, and pay 1 set of closing costs. Finance land, home and closing costs based on the Future Appraised value of the property; land equity counts toward your down payment
*** OWNER BUILDER Program / Stated Income--
with a rate as low as 4.99% up to 85% loan to cost, NO contractor license required (interim loan only) stated income, stated asset, no debt ratios calculated, no pre-payment penalty, new construction only. You don't have to be a builder to qualify for this loan and can be your own construction supervisor!
*** SPEC HOME Program---
construction loans for Builders and for NON-BUILDERS with fixed rate as low as 5.99% up to 80% loan to cost; stated income, stated asset, no debt ratios calculated, no pre-payment penalty (interim only) You don't have to be a builder to qualify for this loan and can be your own construction supervisor!!
*** CUSTOM HOME Program--
with a fixed rate as low as 3.99% to 90% loan to cost (interim only) Stated income, stated asset, no debt ratios calculated, no pre-payment penalty
• Second home construction loans
** Lending off of the FUTURE APPRAISED VALUE in most cases
*Renovation loans for both Purchases and Refinance situations / If you already own the home, may be possible to finance 100% of the costs, call for details
Commercial construction and Commerical loans
Member National Assocation of Home Builders
