![]() ![]() ![]() ![]() A detailed plan for the construction process.You’ll usually have to provide proof that you know how to build houses for the lender to approve your loan. With a self build construction loan, you’re acting as your own general contractor. To qualify for any kind of construction loan, you usually need a qualified builder - meaning a licensed contractor with demonstrable experience building homes - to sign on to lead the project. It’s also called a DIY home build loan or an owner builder construction loan. What Is a Self Build Construction Loan?Ī self build construction loan is a specialty loan that borrowers use when they plan to build a residential home and act as the general contractor during the construction process. In this article, we explain what a self build construction loan is, how homebuyers and real estate professionals can qualify, and what it costs. If you already have homebuilding experience, you may be able to qualify for a self build construction loan. With this type of construction loan, you can build a new home and save money by acting as your own general contractor. If you’re a real estate investor or a new homebuyer looking to create a dream home, a self build construction loan may be the right option.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |