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What is a self build construction loan?

A 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. It’s also called a DIY home build loan or an owner builder construction loan.

What is a home build loan?

It’s also called a DIY home build loan or an owner builder construction loan. 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.

What are owner-builder construction loans?

Owner-builder construction loans are a type of construction loan. You will need to apply for an owner-builder mortgage with similar documentation to a traditional mortgage, including government ID, proof of income, savings and downpayment. Lenders will also look at total debt, debt-to-income ratio and credit score when assessing loan amount.

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