Financial firm ‘loans’ helping hand for projects

By Hawaii Renovation Posted in: RemodelRenovating

CU Network Services (NMLS No. 375459) offers an innovative loan program created specifically for those looking at new home construction or major home remodeling. Here are some frequently asked questions regarding Owner-Builder Construction loans:

What is an owner/ builder?

The term “owner/builder” refers to a person who is acting as their own general contractor for a home being built on a piece of land that they own. By taking on the role of owner/builder, you eliminate the need for a contract with a bonded contractor. This alone can save you thousands of dollars in construction costs. However, owner/builders are required to have some background in construction.

How does an Owner-Builder Construction loan work?

Owner/Builder Construction loans are tailored to your building design and property value at the end of construction. Our home loan officer will review your construction plans so they can customize a loan program to fit your specific project. Every loan is personalized with varying amounts of funding disbursed through each phase of construction. Owner-Builder Construction loans are typically short-term loans with interest only payments during the construction period.

What type of property can an Owner-Builder Construction loan be used for?

An Owner-Builder Construction loan can be used for any type of major home construction project, whether it’s building a home from the ground up or adding an extension on your current home. This opens up options you may not have considered before, like properties in below average condition, vacant lots or even taking another look at your current home.

Whether you’re looking for your first home or decide to build one yourself, you have more options than you think. Our experienced home loan officers understand the process and obstacles borrowers often face on the way to building their new home. Apply online at cunetworkservices.com, call 529-4599 or visit the company’s office at 715 S. King St., Ste. 100.

CU NETWORK SERVICES
CONTACT 529-4599
ADDRESS 715 S. King St., Ste. 100
WEB cunetworkservices.com