Owner builder seeking advice on Loans???

[Jared Elms]

Hey BP friends,

I'm around the Fort  Worth/ Weatherford Texas area and looking for suggestions/advice on getting an owner builder loan to build my new home. I have already purchased land and and looking for a lender to fund the construction to permanent. It seems hard to find the right Lender. My wife actually would be the builder as she and her father are building half of the houses in that development  for the developer. My wife is not the GC but can easily handle the whole process and by building ourselves we should have a decent amount of equity. Any suggestions?

Thanks in advance BP

[Joseph A Gonzales]

Few things: Do not touch the land because most lender want fresh untouched land. Most likely your wife cannot be part of the building process. The builder will have to be approved by the lender which will take a few weeks. I am not sure what lender can help you in TX but I would contact a Licensed Mortgage Loan Originator to help you. 

Also, If your wife and her dad build houses I would see who they have that will lend you the money to build then do a refi when it is build into a regular loan.