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Texans - Financing for your Owner Builder Construction Loan!
Texas Owner Builder financing doesn't need to be complex and costly. You should be able to focus on building your new home, and we'll help you every step of the way.
Save Tens of Thousands. Build 10%-30%+ in instant equity!
Acting as your own GC can save you tens of thousands of dollars on your next home. Our Texas Owner Builder program can provide up to 100% of your project costs, and you can manage the construction without having to pay a general contractor. You don't have to perform the labor to actually build the house yourself, but you are certainly welcome to do so if you feel up to it. In fact, you get to pick your own sub-contractors, pick your own building materials, and make all of the decisions in regards to your home's construction. And, we'll be there to provide any guidance you may need to ensure you have tens of thousands in equity when you move into your new home.
Please note: Due to Market Conditions, Loan Programs Are Subject to Change Without Notice.
How Much Money do Owner Builders Really Save?
Every day our clients move into their new homes with tens of thousands of dollars in equity. In fact, on average, they save between 15 and 30%. That translates to $62,276 (numbers taken from the last 6 years from 2001 - 2007). You don't have to physically construct the home yourself. Instead, you are the construction manager, using the same project management skills you would use in your job. On the other hand, if you have the skill and desire, feel free to do as much physical labor as you wish and build as much equity as possible.
We are the only owner builder program in the country that gives you that many choices. There are no restrictions on your choice of land, building materials or subs. We're here to help - not restrict - you.
No Site Supervisor or Consultants Needed!
Financial Freedom for You and Your Family.
Equity in your home is the number one way to build financial freedom for you and your family. Home prices and values have steadily risen over the last several years, and will continue to do so. And, now, with interest rates on the rise, most folks can't afford as much home as they could just a year or two ago. This is both good news and bad news to most people. Since the average person pays “retail” for their new home, they must pay top dollar, which is bad news if they cannot afford the home that they want. Our customers, on the other hand, pay “wholesale” by avoiding the typical 20%+ markup of a builder. They pay thousands less than the house is worth, move in with instant equity, and get the benefit of raising values while locked into their lower priced mortgages. The average person goes to a realtor or builder to buy a home; pays exactly what the house is worth; and must make a large down payment, or take a higher cost mortgage in order to finance most or all of the purchase. Often times, the average person must “settle” for less than they really want due to these problems. Our customers put little or zero down; design and build the exact home that they want; and move in with tens of thousands of dollars of instant equity. Which would you prefer – being average or being smarter than average?
Can I Use A General Contractor If I Want?
Sure. Again, the choice is yours. You can use a GC if you want a “turn-key” project. You may not see quite as much equity savings as with being your own contractor, but you will not have the time and energy investment either. We will still provide you with great financing and many of the tools necessary to work with your GC. Whether you are your own contractor or hire a GC, we still recommend that you stay closely involved with your home-building project to insure that your home is being built to your specifications. And, we will help you every step of the way!
Some localities require the use of a licensed general contractor, or the use of certain licensed sub-contractors. We can help you sort through these issues and help you find the best ways to get your project done and save money in the process.
Our Support, Your Choices
Our support team will help guide you through your project. All designed to help make your job go as smoothly as possible. As always, the final decisions are yours to make, but we will provide as much or as little assistance as you want or need. We can even help right from the start; by assisting you with your land purchase and home plan selection and design. Then we will work with you on budgeting and estimating; choosing sub-contractors; and preparing your financial documents. We are also available to you throughout your project to provide guidance and answers to any questions that may arise. Choices. Support. Savings.
Please start by completing our Information Request Form. We will not be able to properly discuss your project with you until you complete the Information Request Form.
Unique Construction
Financing In Texas
The first step to a successful home-building project is financing. We have the best program in the nation for owner-builders and construction lending -- offering up to 100% financing on land, building costs, and all permits, fees and closing costs. Occasionally, you may be required to make a small down payment depending on your specific loan qualifications and scenario. Often, however, you can actually build the home of your dreams for nothing more out of pocket than the cost of your appraisal (usually $300-$400, depending on area), plans and insurance. We understand construction loans like no one else and will work with you to make the process as trouble-free as possible. One important feature of our construction loans, even when working with a GC, is that we allow you to control all loan funds. This means that you stay in control and make payments for draws when you are satisfied with the work. Our construction loan programs, which act like a line of credit to complete the home, also feature no payments while you build and no interest on any money that is not used. And, our “one-time close” loan means even more savings for you when your home is complete. Please start by completing our Information Request Form. We will not be able to properly discuss your project with you until you complete the Information Request Form.
Can I Qualify?
With our assistance, you will be able to build your family’s dream home while saving thousands of dollars. But, you must qualify. This is not a program for people with problem credit or who cannot fully document their income. We offer loans with interest only payments during construction or even no monthly payments while you build. And no on-going or per-square foot consulting fees . You will participate in your project right from the start - choosing your own land, house plans, materials and labor. We only offer this unique way of building a new home to motivated families who see the value in a little hard work. In addition to your motivation, we require certain credit and income requirements to qualify for our program. This is not a program for poor credit or low income borrowers. In order to qualify, you must meet our minimum standards for credit, income and motivation. If you have less than acceptable credit or cannot document your income, we have alternative programs available and can still offer excellent financing options. Please also read our Getting Qualified page to learn more about these options, as every situation is unique and will require individual attention. Please start by completing our Information Request Form. We will not be able to properly discuss your project with you until you complete the Information Request Form.
New Construction Only for Primary Residence
No Investment Properties.
Renovation loans for existing homes - Primary Residence Only. Buy and Renovate or Redo Your Existing Home.
Our Texas Owner-Builder program is eligible for new home construction on primary residence homes only. We also offer renovation loans and major home renovation loans that can allow you to be your own GC or hire a builder. Our Rehab/Remodel program can be used to do major renovations to your existing home or even to purchase an existing home and re-build it. In some areas, where building lots are hard to find, buying an existing home, demolishing some or all of it and re-building it, may be the best solution to the home of your dreams. We will offer all the same support and service as with our new construction program to help you through the process. And we can still offer up to 100% financing of all of your costs, based on the future value of the home. If you are interested in either our New Home or Rehab/Remodel program, please start by completing our Information Request Form. We will not be able to properly discuss your project with you until you complete the Information Request Form.
Financing is the First Step
Building a new home is exciting. Choosing your home plan is only half the battle. You also have some tough decisions to make. In addition to deciding on what house to build and where to build it, you will need to know how to finance the project.
We are here to help you with these tough decisions. Our specialty is construction financing, so we understand the decisions you need to make, the questions you may have and how to best assist you with your project.
The links to the left will help you understand the various programs we offer and will provide the answers to many of your questions. When you are ready to discuss your specific project and options, please start by completing our Information Request Form. We will not be able to properly discuss your project with you until you complete the Information Request Form.
Many of our loans offer you a ONE-TIME CLOSE and the ability TO MAINTAIN CONTROL OF THE DRAWS. And many offer NO PAYMENTS WHILE YOU BUILD or Interest only payments during construction. As each project is unique and has different needs, you will need to discuss your specific project with us so in order to determine the right program for you.
Not all loan programs are available in all borrower situaltions. Loan programs subject to change without notice.
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financing of all costs, including land!
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We allow owner-builders - be your own GC.
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No Up Front Bank Fees or Application Fees!
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No Contractor's License needed!
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Loans up to $417,000 in Texas for Primary Residence
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