owner-builder-home-construction-loan.

Before you begin building,
estimate your costs
get your 100% construction loan
and sign a contract
with your selected sub-contractors

When you apply for your owner-builder-home-construction-loan, you'll need estimate bids from most all of your potential subs to take with you to the bank.

Until you get your estimate bids you won't be able to get a construction loan. You can't start building until you get funding. So get started right now by getting those estimate bids from all your potential subs so you'll have them ready to take with you to the bank when you go apply for your construction-loan.

When you go to the bank, if you take at least 2 bids with you from 2 or more subs in the same catagorie of work, (2 plumbers, 2 electricians, 2 framers, etc) you will show the banker you are serious and it will look like you know what you're doing as you apply for a construction-loan. The loan officer is concerned that you have back-up bids in case one of your subs cannot do the job when you need it done.

Study this website thoroughly so you'll know your job as owner/Builder (GC) and then talk "shop" with the banker. Let him/her (banker) witness that you know what you are doing.

Our Loan Officer admitted that even her best General Contractors didn't come with this much documentation. I never came across as "knowing it all", and I asked my Loan Officer for help whenever I needed to, and she was always willing to give suggestions.

First impressions are what last, so along with your plans take all your sub's estimate with you.

If your credit is good and you make at least $3000 a month,(this amount will vary, depending on your locality and the housing market) and if you take estimate bids with you to the bank, you'll likely be given a owner-builder-home-construction-loan if the bank is looking to make home construction loans.

2010 UPDATE: It may be harder to get a loan in today's economy, because the housing market has played havoc with the lending institutions but don't despair. It simply means you will have to search further until you find a lending institution that is "hungry" for loans.