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.

How do I get an owner builder construction loan?

To obtain an Owner Builder Construction Loan, it is important to create a detailed business plan outlining your construction project, qualify for the loan by meeting the lender's requirements, and complete any post-approval steps necessary for securing the loan.

What does it mean to be an owner build?

Being an owner build means taking a more direct role in the construction process, ensuring that every detail aligns with your vision. These construction loans tend to have higher loan rates compared to a standard mortgage. This is because construction loans can be used during the construction period, making them a short-term loan.