Frequently Asked Questions

• What Loan Programs Do You Offer?
• What Property Types Do Your Provide Financing For?
• What Are Your Credit Requirements?
• Where Do You Broker Loans?
• How Long Does the Process Take?
• How Does Your Draw Process Work?
   
• Any Other Questions?

What Loan Programs Do You Offer?
For-Owner-Builder.com is an informational web site created by former mortgage professionals.  As such, this is an informational resource only.  For-Owner-Builder.com is not a mortgage broker or lender and this is not an offer of credit, a loan commitment, or a rate quote. This is strictly for information and educational purposes only.

What Property Types Do You Provide Financing For?
The programs highlighted on this web site (owner-builder, custom construction, spec home financing, rental property construction, rehab loans) are offered by mortgage brokers and lenders throughout the country.

What Are Your Credit Requirements?
For-Owner-Builder.com is an informational and educational resource only that was created by former mortgage professionals. We do not have any specific credit requirements as we are not a lender or broker and this is not an offer of credit.

Each loan program has its own credit score and underwriting requirements.  A good loan officer will work with all borrowers, regardless of credit, to customize a loan program to meet their individual needs. If a borrower's score is too low for one of the programs at their disposal, a good loan officer will make suggestions to them and follow-up with them in order to help get their credit score where it needs to be.

Where Do You Broker Loans?
We are not a mortgage broker or a lender and as such For-Owner-Builder.com does not broker loans anywhere.  This site is created for informational and educational purposes only by former mortgage professionals with dozens of years of combined mortgage origination experience.

How Long Does The Mortgage Process Take?
Mortgage loans typically take a few weeks to close although typical residential loans can be closed as quickly as three days in some states. Most owner-builder, construction and spec home loans take considerably longer because of the nature of the loan program and the information that must be verified and approved. You can expect a construction home program to take anywhere from 1-3 months depending on how experienced you or your builder are, if plans are available, appraisal and title availability, etc.

How Does Your Draw Process Work?
The Draw Process for Owner-Builder, Custom Construction, Spec Home Financing, Rental Property Construction, and Rehab Funding vary depending on lender. Usually funds can be requested at any time during construction and are disbursed as line items are completed according to the plans.  Depending on the location and program type, there may be a fee for inspections to ensure the work has been completed. Please ask your loan officer about specific details based on your loan location.

Draws can be wired to your account, or sent in the form of a check.  All money is allocated upfront at the time of closing, so there will not be a long wait to get your funds, and you don't have to worry about approval processes at every step.

Any Other Questions?
Loan programs, terms and guidelines can be confusing, especially with owner-builder projects, rehab funding, custom construction, and spec home loans. That is why we created this web site and have dedicated mortgage professionals on hand to help you each step of the way.  We want to make this process as simple and straightforward as possible.

To search for answers to your other questions, use the form below: