It would seem that construction activity is still fairly high based upon the number of calls that I get from people about construction loans. There are a lot of calls from people just getting started, as well as from a number of seasoned “construction veterans.” In a large number of those calls, I hear some common questions. So I thought that I’d answer a few of them here.

Q: How do construction loans work?

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Owner builder construction loans are hard to sell, because it is difficult to generate leads. There is no established list of interested owner builders to whom you can send out direct mailings.

Therefore, owner builders have to find you. This is where having an online presence is vital, but you need more than the standard, simple information request form if you want to be successful in marketing to any group of clients like ow (more…)

Whether you are building your home as an Owner Builder or hiring a General Contractor, there are several people that will be involved with your loan process in addition to the loan officer with whom you choose to work. Knowing the roles of each of these people will make your loan process flow smoothly and quickly.

Here is a brief summary of each person and their job description. All of these people working together are needed to (more…)

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 equity for an owner builder.

However, owner builder construction loans are a tricky animal. Not only (more…)