Construction loans in Florida?

First the bank, whoever you go with is going to want to see you bring someting to the table. Depending on his credit scores and income will be a determining factor in what down payment they want to see.

2nd- If he owns a home now, he does not have to sell it before beginning construction. There are loans available that you basically do not make a payment on the loan until the construction is complete and the loan is converted to your long term financing. We actually have a lender that does a 3 n 1. Aqcuisition for the land, $ for the construction & then converts to permanent financing upon completion.

3rd-as long as you have someone experienced on your team, it can be an owner builder project.

If you have any additional question you can visit our construction loan Q&A – it covers length of time, etc.

http://www.aimwithfocus.com/construction_loan.html