By admin on May 2, 2010
If an owner builder understands the differences between his construction loan and other, simpler types of mortgage financing, then he will be much better prepared when starting his planning and financing. Owner builder construction loans are a more complicated process than a standard mortgage to purchase or refinance a home. Therefore, they will require a [...]
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By admin on April 18, 2010
People building a custom home, whether acting as an owner builder or hiring a licensed general contractor, often have to be reminded of one simple, vital point: look at the big picture.
Owner builders, especially, have a chance to save tens of thousands of dollars being their own general contractor and managing the construction project themselves. [...]
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By admin on April 12, 2010
With all of the recent changes in the mortgage industry, it can be tough to keep up with the different requirements for the different loan programs available. Owner builder construction loans are probably as complex as residential mortgages can get. But, there are some simple rules about your credit scores that can make understanding the [...]
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By admin on February 20, 2010
Owner Builder construction is a great way to build instant equity into your new home by eliminating the costs of a general contractor. In fact, cutting the overhead of a licensed general contractor can save an owner builder anywhere from ten to thirty percent on construction costs. That’s tens of thousands of dollars in instant [...]
Posted in General | Tagged builder, construction, imperatives, loans, owner, the, three
By admin on February 20, 2010
After owner builders work their way through the maze of owner builder construction loan qualifying, it will be time to close on the loan. This is essentially where you sit down and sign a huge stack of documents that you will never read, or understand if you try.
Basically, this is where the owner builder loan [...]
Posted in General | Tagged about, builder, closing, costs, loan, owner, the, truth
By admin on January 10, 2010
Owner builder construction loans, like the rest of the mortgage industry, have had to tighten their belts to survive in today’s lending climate. For borrowers who wish to build their own homes, this translates into tougher guidelines to secure financing. However, there are still four creative ways that an owner builder has available to close [...]
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