Ocean Capital Lending offers residential construction to perm financing under conventional, FHA and VA, USDA and portfolio/private for primary and 2nd/vacation homes. Our capabilities include conventional loan limit sizes along with jumbo. We can structure the land acquisition together with the purchase, or refinance the current lot as a cash out for development costs. Spec financing and owner builder construction are also specialty construction products we close under our private platform.
Advantages of OCL Home Construction and Land loans:
- Up to 100% of construction and acquisition costs under VA, 96.5% for FHA, 95% for conventional
- Jumbo construction limits available up to 85%
- Prime based rates through construction
- Easy builder approval process
- No prepayment penalties
- Land acquisitions and refinance cash out are acceptable
- Spec financing
- Owner builder ability
- 1x and 2x close options available