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 Home Improvement - Owner Builder StyleMany families who fix up their homes save money by doing some of the labor themselves. In many cases, it would be a waste to hire a general contractor for simple home improvements that you can do yourself. Therefore, people often get this DIY version of home improvement confused with full scale owner builder construction. Knowing the difference will make finding the right financing much easier. Understanding Real Estate Zoning Before You Buy Your Land to Build Your House as An Owner BuilderIf you want to build your home with a general contractor or as an owner builder, you are almost certainly going to need financing in the form of a construction loan or an owner builder construction loan. So, before you ever commit to that dream plot of land, you better first understand the zoning implications - not just for your county's building permits but also for your owner builder loan terms. The Inner Workings of Interest Rates for Owner Builder LoansA good owner builder construction loan will have only one closing to cover the land purchase, construction phase, and conversion to your permanent financing. Therefore, the owner builder loan will have two sets of interest rates: one while you build, and one rate for when you move into your new home. Every owner builder should understand the inner workings of these rates when planning to build. What Prevents Most Businesses from Using Ezine MarketingWho should be using ezines to market their products or services? Every single business owner in America. So, why do so few do it? The short answer is fear. But, if we can take a deeper look into the problem, we can come up with some easy solutions that will jump start your marketing system. How to Co-Sign for a Loan Without Hurting YourselfIf you are considering co-signing for a loan to help out a close friend or family member, the best advice is to walk away. Don't do it. It could cause real harm to your credit score and to your qualification numbers when you need a mortgage yourself. But, if you must be a co-signor, then make sure you follow these simple rules to ensure it won't hurt you in the long run. Are Mortgage Insurance Companies Affecting Your Owner Builder Construction Loan?An owner builder construction loan, just like any construction loan, will not have any mortgage insurance payments while you build. So, why is it then that mortgage insurance companies are having a huge impact on your ability as an owner builder to get a loan? The answer lies within the banks' rules for converting you to permanent financing once the home is built. Having Your Loan Denied Due to Your Credit - Despite Having a Good Credit ScoreEveryone knows that you need to have a good credit score to get the best rates and terms on any loan, especially a mortgage. But, many people don't realize that their credit report can cause them to be denied financing, despite having a good credit score. It's more important than ever to understand your entire credit history - not just your credit score itself. Five Creative Ways to Secure an Owner Builder Loan Without a Down Payment at ClosingOwner builder construction loans, like the rest of the mortgage industry, have had to tighten their belts to survive in today's lending climate. For borrowers who wish to build their own homes, this translates into tougher guidelines to secure financing. However, there are still four creative ways that an owner builder has available to close on a construction loan without a down payment. The Nine Basic Steps of the Owner Builder Construction LoanOwner builder construction gives you the chance to build your own home and earn a lot of instant sweat equity in the process. However, the loan process is more involved and time consuming than a simple purchase or refinance loan. If you are considering being an owner builder, understanding these nine basic steps will make the project financing and planning much smoother. Fannie Mae and Freddie Mac: The Good, Bad and Ugly for Owner Builder LoansHow will the government's bailout of Fannie Mae and Freddie Mac affect your ability to get an owner builder construction loan? Good owner builder loans are construction-to-permanent loans that let you wrap your permanent mortgage into the financing with the construction phase. This means that the Fannie and Freddie bailout will create some good and bad changes for you, the owner builder.
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