• Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon

Land Development Loans

This program is designed to provide a business loan to purchase and/or develop unimproved raw land for a residential or commercial subdivision. Construction financing is also available.
 
  • Loan amounts from $100,000 to $10,000,000
  • Loan amount up to 75% of the appraised value, not to exceed 85% loan to cost (loan to value could be less subject to a full underwriting and market review of the project)
  • Land purchase up to 55% of the purchase price. (Cross collateralization allowed on other properties, if needed, for maximum loan amounts)
  • Loans available to qualified Developers with less than 5 years experience
  • Fast pre-qualification, typically between 3 to 5 business days
  • Deal Directly with Loan Officer/Underwriter
  • Loans are available to Borrowers with excellent to less than perfect credit
  • Flexible draw schedules
  • Up to 3 year terms available
  • Interest only payments based on funds draw
 

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY 

 

Commercial Lot/ Land Loans

 

This program is designed to provide a business loan to purchase a commercial lot or refinance a current commercial lot loan. Commercial lots must be eligible for present or future commercial construction. Construction financing is also available (See appropriate construction loan link above for more information).

 

  • Loan amounts from $50,000 to $1,500,000

  • Land purchase up to 55% of the purchase price. (Cross collateralization allowed on other properties, if needed, for maximum loan amounts)

  • No minimum acreage requirements or maximum limitations

  • Commercially zoned land with entitlements

  • Fast pre-qualification, typically between 3 to 5 business days

  • Deal Directly with Loan Officer/Underwriter

  • Loans are available to Borrowers with excellent to less than perfect credit

  • Up to 3 year terms available

  • Interest only payments

 

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY 

 

 

Small Balance Bridge Loans

***PROGRAM IS CURRENTLY BEING EVALUATED ON A CASE BY CASE BASIS. PLEASE CALL FOR DETAILS.***

 

This program is designed to access the equity in your current owner occupied residence or possibly another property you own (that is intended to be sold), to purchase a new lot, home or start construction of a new home.
 

  • Loan Amounts from $75,000 to $2,500,000

  • Loan to value up to 85% of after appraised value

  • Allows you to sell your home on your time schedule

  • Deal directly with the Loan Officer/Underwriter

  • Fast pre-qualification, typically within 3 to 5 business days

  • Loans are available to Borrowers with excellent to less than perfect credit

  • Full income documentation

  • 1 to 4 family owner and non-owner properties are eligible (other property types may be considered on an  exception basis)

  • 12 month term

  • Interest only payments

 

 

Loans available for owner occupied and non-owner occupied properties in the following states: CA, CT, DE, FL, IA, ID, MA, MD, MI, NC, NJ, NY, OR, PA, RI, VA, WA 

Loans available for non-owner occupied properties only: AK, AL, AR, CO, GA, HI, IN, KS, KY, ME, MS, MO, MT, NE, NM, OH, OK, SC, TN, TX, UT, WY 

 

 

Builder Model / Spec Construction Loans

This program is designed to provide a business loan to a Builder for the construction of a model or spec home.

 

  • Loan amounts from $100,000 to $20,000,000

  • Loan amounts up to 75% of the appraised value (Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)

  • Land purchase may be included in the construction loan. Please call for a quote.

  • Deal directly with the Loan Officer/Underwriter

  • Full and Limited Documentation programs available

  • Fast pre-qualification, typically within 3 to 5 business days

  • Loans are available to Borrowers with excellent to less than perfect credit

  • Flexible draw schedules

  • 1 to 4 family homes preferred, see Multi-Family for more than 4 units

  • 12 month construction term (longer terms considered on an exception basis)

  • Interest only payments based on funds advanced

  • New Builders will be considered

 

 

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY 

 

Multifamily 2-4 Units Construction Loans

This program is designed for Borrowers who are constructing a 2 to 4 family residential owner occupied property. Non-owner occupied properties allowed, please call for a quote.

 

  • Self Build available

  • Loan amounts from $100,000 to $2,500,000

  • Loan amounts up to 75% of the appraised value (Cross collateralization allowed on other properties, if   needed, for maximum or greater loan amounts)

  • Land purchase may be included in the construction loan. Please call for a quote.

  • Deal directly with the Loan Officer/Underwriter

  • Full and Limited Documentation programs available

  • Fast pre-qualification, typically within 3 to 5 business days

  • Loans are available to Borrowers with excellent to less than perfect credit

  • Flexible draw schedules

  • 12 month construction term (Longer terms considered)

  • Interest only payments based on funds advance​​​

 

Loans available for owner occupied and non-owner occupied properties in the following states: CA, CT, DE, FL, IA, MA, MD, MI, NC, NJ, NY, OR, PA, RI, TX, VA, WA 

Loans availabe for non-owner occupied properties only: AK, AL, AR, CO, GA, HI, ID, IN, KS, KY, ME, MS, MO, MT, NE, NM, OH, OK, SC, TN, UT, WY
 

 

Residential Lot and land Loans

This program is designed for Borrowers in need of financing to purchase a residential lot. Residential lots must be eligible for present or future new construction. Construction financing is also available (see appropriate construction loan link above for more information).

 

  • Loan amounts from $35,000 to $750,000

  • Loan amounts of up to 75%* of the purchase price in improved subdivisions, otherwise up to 55% loan to value. Please call for a quote. (*Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts)

  • No minimum acreage requirement or maximum limitations

  • Deal directly with the Loan Officer/Underwriter

  • Full and Limited Documentation programs available

  • Fast pre-qualification, typically within 3 to 5 business days

  • Loans are available to Borrowers with excellent to less than perfect credit

  • Flexible underwriting

  • Residential zoned land (some exceptions for agriculturally zoned land)

  • Interest reserves are typically not required

  • Up to 5 year terms

  • Interest only payments may be available

  • Satisfactory evidence the lot can be built on

 

Loans available in the following states: AK, AL, AR, CA, CO, CT, DE, FL, GA, HI, IA, ID, IN, KS, KY, MA, MD, ME, MI, MO, MS, MT, NC, NE, NJ, NM, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, WA, WY 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OBC Construction / Land /Lot loansPrograms Overview
                          Click Here to Download

 MULTIFAMLY CONSTRUCTIONS/ BUILDERS SPEC HOMES FINANCING