Owner Builder Construction Loans
While acting as your own general contractor can save money this option is typically only available to those who have proven experience as a home builder or are. A key ingredient in the process is obtaining an owner builder construction loan. Pierson Gibbs Homes Financing Information On Our Construction Loan Build Your Own Custom Home With A Pierson Gibbs Package Operating as an Owner Builder OB can give the client more actual control over their project as well as potentially offering them the opportunity to save contractor overhead and profit. Owner builder construction loans . Why build for yourself. The short answer is that a construction loan is a short-term loan taken out to finance the building process while a mortgage is a long-term loan taken out on real property At the end of the short-term of the construction loan the loan will be refinanced as a mortgage for the now completed property. You must consider if the higher financial costs are worth these savings and remember th