Construction Financing to Build Your Own Home [Paperback]

Jerry L. Nowlin (Author)

Book Description

Publication Date: July 1990

Outlines various ways to get and use construction financing to build your own home. Shows many ways to save money in the process.

Editorial Reviews

About the Author

The author has been involved in mortgage financing since 1972 as a loan officer, branch manager, secondary marketing officer, construction loan manager and real estate paralegal. He is a 1976 graduate of William Mitchell College of Law, licensed to practice law in Minnesota.

Excerpt. © Reprinted by permission. All rights reserved.

Cost Savings Building your own home eliminates the general contractor, who adds a profit or "fee" amounting to somewhere between five and 25 percent of the total contract amount. Other savings from paying subcontractors and suppliers as soon as they invoice for their work or materials can cut another two to 10 percent or more from their bids. Careful shopping for and use of construction financing can reduce closing costs, fees and points, giving savings of as much as two to four percent of the amount of the construction financing. Purchase of materials, components and appliances directly from manufacturers rather than from local suppliers can save 10, 20 to as much as 50 percent per item. In addition, purchasing from an out of state manufacturer saves you the state sales tax you would have had to pay had you bought in the state where you live and are building your new home. That can be another six percent per item. Finally, labor that you provide ("sweat equity") is labor which you do not have to pay for. That can add up to a substantial savings for you, one to 10 percent is typical.

Product Details

• Paperback: 70 pages
• Publisher: Jerry L Nowlin Consulting (July 1990)
• Language: English
• ISBN-10: 0962864307
• ISBN-13: 978-0962864308
• Product Dimensions: 10.8 x 8.3 x 0.1 inches
• Shipping Weight: 3.2 ounces
• Average Customer Review: 2.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #7,812,205 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

2 of 2 people found the following review helpful:

3.0 out of 5 stars Less than Expected, February 18, 2001

By A Customer

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This review is from: Construction Financing to Build Your Own Home (Paperback)

This book is more like a pamphlet with only the most basic of information.

1.0 out of 5 stars Disappointment bordering on misrepresentation, March 3, 2007

By 

Tom "Construction Finance Professor" (Orange County, CA) - See all my reviews

This review is from: Construction Financing to Build Your Own Home (Paperback)

There is less here about residential construction loans than can be gathered via a few minutes on the internet. The best thing I can say about this over-priced "pamphlet" is that it doesn't include any incorrect information - you can't be incorrect if you don't include any hard information. Don't waste your money with this light-weight vacuous collection of the semi-obvious.