The first thing you need to know about getting finance for your owner build project is that banks want detail (and LOTS of it).
The next thing you need to know is an Owner Builder can only borrow up to 60% of the build cost versus 90% to 95% if going through a registered builder.
But don't let that put you off.
Get two steps ahead of the bank by doing loads of planning, (and more planning) before you even get to the application part.
We can help you do this with our free Budget Planner. To get a copy, refer to the link under ‘Additional Information' below.
A few other points you need to know:
You want to get through your Owner Builder project without financial stress. It's simply not worth it. The more you plan, the more you'll put yourself in a great position to get to the end.
This is just a snippet of the finance side of things, we encourage you to click on both the links provided below particularly the Q&A!
This Q&A is a must read – All you need to know about Owner Builder finance
Get our FREE Budget Planner – CLICK HERE
And if you're looking for a Mortgage Broker familiar with Owner Builder finance, we highly recommend Paul Blake at MoneyQuest Finance Specialists. We like Paul because he has over 20 years lending experience and has helped many owner builders with their finance to build their dream. It also helps that he’s honest, down-to- earth and works hard for his clients.
Feel free to contact Paul on 0407 345 572.