Looking to build my own home

[peanutman]

Looking to build my own home and be my own GC(General Contractor) but I need a license to get a loan from a bank.

Has anybody else done this? If so, how did you get a new Construction loan without a builder or GC license?

I have found one company that does give loans but there website looks a little fishy. (Construction Loans from CTPLoans.com). It doesn't even give a phone number but it has good reviews.

 

[Baja28]

I've never heard of needing a builders license to build your own home. I know ppl that did it without a license. You will need licensed electricians and plumbers though.

 

[BeenSpur'd]

Looking to build my own home and be my own GC(General Contractor) but I need a license to get a loan from a bank.

Has anybody else done this? If so, how did you get a new Construction loan without a builder or GC license?

I have found one company that does give loans but there website looks a little fishy. (Construction Loans from CTPLoans.com). It doesn't even give a phone number but it has good reviews.

I was the general contractor when we built our farmhouse. Didn't need to get any license. It's a lot more work than you think. I did all the finish work and designed and built all the cabinets, vanity's and medicine cabinets out of wood that I cut down on the farm and brought to the Amish to cut into lumber. I also made most of the trim and custom thresholds and did the stonework on the fireplace. It was a big undertaking being a women who wanted more house for the money. We ended up with an over 5,200 sq ft. home for a $200,000 loan. I got to have granite counter tops in the kitchen and bathrooms and a $15 square foot maple floor in the dinning room The only problem I had was with the payoffs, they needed certain things done before they would allot each payment and sometimes it was hard to get things done their way. I had a good inspector and could talk her into releasing the money when things were in the works instead of finished. She understood that sometimes it just doesn't work the way the papers are written up. We went with my husbands bank USAA. My husband did the paperwork and I did the actual work. I was there to watch and learn from all the sub contracters that I hired. Go with Coombs Aud for the h-vac, they were the BEST contractors that worked on my farmhouse. Good luck to you, it's a very rewarding experience.

 

[Radiant1]

I've never heard of needing a builders license to build your own home. I know ppl that did it without a license. You will need licensed electricians and plumbers though.

Or a liscensed contractor willing to sign off on your work.

 

[peanutman]

I've never heard of needing a builders license to build your own home. I know ppl that did it without a license. You will need licensed electricians and plumbers though.

True, you don't need a license to build your own home but In order to get a Construction loan from the bank; you have to have a builder's license or builder that will sign off on the loan with you (unless you have the money already and don't need a loan).

Anyways, somebody sent me some great infromation and I will follow up with them.

Thanks!

 

[peanutman]

Thanks! I wish I could use USAA but I believe they are only for Military? Congrats on 5200 sq ft home for $200,000! That's awesome!!!!!!!!!!! I will also give Coombs Aud a call for the HVAC.

Thanks!

I was the general contractor when we built our farmhouse. Didn't need to get any license. It's a lot more work than you think. I did all the finish work and designed and built all the cabinets, vanity's and medicine cabinets out of wood that I cut down on the farm and brought to the Amish to cut into lumber. I also made most of the trim and custom thresholds and did the stonework on the fireplace. It was a big undertaking being a women who wanted more house for the money. We ended up with an over 5,200 sq ft. home for a $200,000 loan. I got to have granite counter tops in the kitchen and bathrooms and a $15 square foot maple floor in the dinning room The only problem I had was with the payoffs, they needed certain things done before they would allot each payment and sometimes it was hard to get things done their way. I had a good inspector and could talk her into releasing the money when things were in the works instead of finished. She understood that sometimes it just doesn't work the way the papers are written up. We went with my husbands bank USAA. My husband did the paperwork and I did the actual work. I was there to watch and learn from all the sub contracters that I hired. Go with Coombs Aud for the h-vac, they were the BEST contractors that worked on my farmhouse. Good luck to you, it's a very rewarding experience.

 

[mizteresa1965]

I hope you already got your land perked.........cause if you didn't, you'll have to wait till next year.

 

[sockgirl77]

I've never heard of needing a builders license to build your own home. I know ppl that did it without a license. You will need licensed electricians and plumbers though.

That's what I thought. My stepdad and his buddies built their houses. None of them were licensed. They did hire licensed electricians, plumbers, and septic people though.

 

[sockgirl77]

True, you don't need a license to build your own home but In order to get a Construction loan from the bank; you have to have a builder's license or builder that will sign off on the loan with you (unless you have the money already and don't need a loan).

Anyways, somebody sent me some great infromation and I will follow up with them.

Thanks!

I'm not sure that all banks are the same. Is this true?

 

[peanutman]

Yes we do.

Thanks!

I hope you already got your land perked.........cause if you didn't, you'll have to wait till next year.

 

[peanutman]

That's my question! I hope I'm wrong. I want someone to tell me I'm wrong and give me a bank that does. I have called several banks/credit unions and they all say the same.

I'm not sure that all banks are the same. Is this true?

 

[sockgirl77]

That's my question! I hope I'm wrong. I want someone to tell me I'm wrong and give me a bank that does. I have called several banks/credit unions and they all say the same.

Psst...post under the quote like you've seen everyone else do.

 

[stix]

Don't think you need a license to build your own house, but be able to prove your able to do so.. If your a carpenter and have built 30 houses. I'm sure you could jockey your position that way.. Hope this helps.

 

[Bronwyn]

Looking to build my own home and be my own GC(General Contractor) but I need a license to get a loan from a bank.

Has anybody else done this? If so, how did you get a new Construction loan without a builder or GC license?

I have found one company that does give loans but there website looks a little fishy. (Construction Loans from CTPLoans.com). It doesn't even give a phone number but it has good reviews.

My parents built their own home in SM county, and they were their own general contractor. Not 100% sure which bank, I think F&M, I would have to double check. It was a hard loan to get, considered a high risk for the bank.

 

[tyky]

Licensed Contractors have experience and business insurance which is attractive to banks. I really don't know for sure, but my hubby and I are building a house right now and we are working with my hubby's friend who is a builder and he is covering the entire project under his insurance (Builder's Risk). We have done work ourself in the house and it is 60 days until finished.
Good luck and I hope you can find a way to do it