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Updated almost 8 years ago,

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22
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0
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Mike C.
  • Western, PA
0
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22
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New construction loan?

Mike C.
  • Western, PA
Posted

My plan is to build a fourplex(townhomes).  I have received quotes for just the shell/frame and a complete move-in ready build.  The difference is close to 150k. I am comparing the complete build to the cost of the shell, plus my supplies cost.

I figure it is worth my time, even paying the mortgage out of pocket while I complete the several months of work myself.  Electrical, plumbing, insulation, drywall, flooring, kitchens, and baths will be completed by myself.  

Is it possible to acquire a loan like this without being a contractor?  ..or is this just a horrible idea?

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