What is an owner-builder construction loan?

Most landowners pay a large amount of money to have a general contractor come in and build the house for them. However, there is an alternative that gives you more control at a lower cost. This alternative is known as an owner-builder construction loan and may or may not be the key to creating your dream home. What Is an Owner-Builder?

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 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.