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Ojai's inventory is tight. If you can't find the right property, building one is a real strategy.
Construction loans fund the build phase. They convert to a permanent mortgage when your home is complete.
680+
Min Credit Score
20-25%
Down Payment
Licensed contractor
Builder Requirement
12-18 mo. build phase
Loan Term
Variable during build
Rate Type
Construction Loans in Ojai
Most lenders want a 680+ credit score for construction loans. Some require 700 or higher.
Expect a 20-25% down payment. Lenders see construction risk differently than a finished home.
Local decision guide
Use this guide to connect construction loans eligibility, lender expectations, and local market factors before comparing payment options in Ojai.
Ojai's inventory is tight. If you can't find the right property, building one is a real strategy.
Construction loans fund the build phase. They convert to a permanent mortgage when your home is complete.
Most lenders want a 680+ credit score for construction loans. Some require 700 or higher.
Not every lender does construction loans. Big retail banks often say no or make it painful.
We work with wholesale lenders who specialize in construction. That matters when your draw schedule needs flexibility.
The appraisal is based on plans and comps — not a finished home. Get your plans detailed before you apply.
Construction-to-permanent loans save you from closing twice. One close, one set of fees.
Hard money moves faster but costs more. Construction loans take longer to set up but carry lower rates.
Bridge loans work if you're buying land and need time. Construction loans are for when you're ready to build.
Ojai sits in a valley with fire risk zones. That affects insurance requirements during construction.
Ventura County has specific permitting timelines. Build your timeline with county delays in mind.
You draw funds in stages as the build progresses. At completion, the loan converts to a permanent mortgage.
Most lenders require 680 or higher. Some wholesale lenders set the bar at 700 for custom builds.
Yes. Lenders require a signed contract with a licensed builder. Owner-builder programs exist but are rare.
Fire zone properties need specific insurance during the build. Some lenders add conditions or decline entirely.
You close once. The construction and permanent loan are combined, saving you a second set of closing costs.
Some programs include lot acquisition. Others require you to own the land before applying for construction financing.