Our Builder Finance Group targets large and small residential builders and developers in Oklahoma and Texas. We're quickly becoming one of the most active lenders to the most reputable construction companies in these areas. We have a cadre of specialists inside and outside of the bank who have dedicated their careers to making homebuilding and residential land development easier.
We understand that low volume and high volume builders need specialized service, and our staff is trained and systems are geared to meet this need. Our lenders are familiar with the real estate in their markets and rely heavily on our expert engineering, legal, housing data consultants to help remain informed about the housing markets they serve.
What We Do
First United's Builder Finance Group specializes in financing "for sale" housing builders and developers. This includes custom and volume homebuilders, and residential developers.
Our specialists are skilled in providing financing for:
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Entitled Raw Land
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We get it. Gaining the legal right to develop a property for your chosen use takes time and involves a number of government agencies. While waiting for the moment when you can put a shovel in the ground you need bridge financing to keep operations moving so that you can begin making the return on your initial investment. We can help with a loan structured around your situation. It's not a "one size fits all" solution. It takes understanding your investment and the steps needed to get your project started.
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Land Acquisition and Development
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First United's Builder Finance Group finances land development to single family residential lot developers and homebuilders that develop their own lots. The structure of these loans is designed specifically to meet the developer where they are. We consider the housing product-type, the expected absorption, and the structure of builder contracts. We will also finance entitled raw land. Our advance rates and pricing are competitive.
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Finished Developed Lots
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First United Bank understands that our builder clients need access to finished lots and appropriately structured financing to acquire those lots for future construction. Our finished developed lot facilities are designed and structured exclusively to meet this need. These facilities are designed to soften bulk takedowns imposed by developers or aggressive takedown schedules in lot option contracts. The loan advance rates and pricing are competitive.
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Interim Construction
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First United's Builder Finance Group offers construction financing for all "for sale" single and detached housing projects. This includes single family detached homes, townhomes, and low-rise condominiums. Loan facilities include guidance and committed construction revolvers, borrowing base revolvers, all containing sublimits that balance risk and reward. The sublimits allow for models, speculative units, and finished developed lots. Draws and inspections are handled by industry specialists and funded as frequently as the clients prefers. Our loan pricing is competitive. The structure of these facilities is designed to support our builder's style of construction.
Come to any Oklahoma or Texas location for more information!
Visit Us Today- All programs subject to credit approval and loan amounts are subject to creditworthiness. Some restrictions may apply. The term, amount, interest rate and repayment schedule for your loan, and any product features, including interest rate locks, may vary depending on your creditworthiness and on the type, amount and collateral for your loan.