Build Your Own Home    

   Construction loan


"Build Your Own Florida Home"


Florida Mortgage Corporation offers financing to help you build your own home.
An 'owner builder' is a person who constructs his own home. The owner is required to obtain the necessary building permits for the construction or renovation of the home.

Owner builders may: Florida Construction Loan
  • undertake all or part of the building works themselves, except in areas that require licensed tradespeople, such as electricians, plulmbers and roofing tilers
  • contract out all or part of the work to appropriate tradespeople
  • engage a supervisor to oversee the work.

An owner builder does not contract a professional builder to do the complete task for them, but instead takes full responsibility for the tradespeople, their work and the risk that a registered builder would otherwise accept for the entire project.

  Up to 90% LTV maximum

  Self-Build - Owner Occupied  (No (GC) contractor license required)

  LTV based on appraised value

  Single Family Residence Only

  No Income Verification (stated) option available

  From $75,000 to $600,000

  Stick-built or modular homes only

  No lot seasoning required

  Resume required  -  Detailing experience and ability to build a house

  Liquid reserves:  Borrower must have at least 5% (reserves) of cost to build

  Other construction programs

NO GC license required. However, final approval is based on borrower's experience to build, borrower's liquidity, and a review of the property itself. In some cases, an "overseer" may be required.

This program is NOT designed for the borrower who plans to do a majority of the work on "weekends" and holidays, while holding down a full-time job.





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