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Owner-builder construction loan. Owner-builder loans are construction-to-permanent or construction-only loans in which the borrower also acts in the capacity of the home builder.
Owner-builder construction loan – A loan that operates like a construction-to-permanent or construction-only loan, but with one key difference: the borrower is also the builder.
Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly. [8] In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH. [8] In 2011, the company unveiled its first net-zero energy homes, in Buckeye, Arizona. [9]
Tri Pointe Homes, Inc. is a home construction company headquartered in Incline Village, Nevada.It also offers financing and insurance services to homebuyers. It operates in Arizona, California, Nevada, Washington, Colorado, Texas, the District of Columbia, Maryland, North Carolina, South Carolina, and Virginia. [1]
K. Hovnanian the home builder and the mortgage company are no strangers to controversy. In 2008, the home builder was involved in a class action lawsuit where the plaintiffs alleged their subdivision was built near an old bombing range. The company settled the lawsuit in 2011 for a reported $1.2 million. [12]
FHA construction loans: For as little as 3.5 percent down, you can get a construction loan insured by the Federal Housing Administration (FHA). These come in the form of a construction-to ...