The 8 Benefits of Modular Construction that Every Owner Builder Needs to Know (business news)

September 1st, 2008 admin Posted in finance |

By Chris Esposito

Owner builder construction is growing in popularity at a tremendous pace around the country as more and more people look to save money by building their own home. If you are considering being an owner builder to build your next house, then you need to know these 8 benefits of modular construction before you begin.

1. Highly engineered.

Whether you want to be an owner builder or hire a licensed general contractor, modular construction will be a good option to ensure the home is well engineered. In the past, there was a stigma about modular construction, because the earliest versions of the homes were poorly built.

But, the modular industry has come a long way. An owner builder can rest assured that a modular home will be engineered properly. Nowadays, unlike twenty years ago, there is a big difference between modular homes and manufactured homes.

2. Generally lower cost per square foot.

If you want to be an owner builder, you will save money in most cases by building a modular home versus hiring a general contractor to build the house for you. In fact, modular construction is somewhat comparable in cost to owner builder construction on site. In general, you will pay a little more, though, for the convenience of having the modular home built for you in the factory. However, if you compare owner builder modular construction to hiring a GC to build your home on site, then you should almost always see savings by going the modular route.

3. Built in a factory environment, eliminating timber warp and resulting in improved fit.

Because a modular home is not built on site, the lumber is not left outdoors to endure the weather. Therefore, the materials are not subject to timber warp, and your framing will fit together more precisely. Once the modular home is erected on the foundation on site, it will be weather tight, and the owner builder can then take his time to do the few remaining items required to complete the home.

4. Efficient building process and material usage saves on costs and material waste.

Any owner builder who goes through the typical on site construction process will tell you that there is always a lot of waste. It can’t be avoided, as you have to estimate the amount of lumber and other materials needed to build your home. This waste translates directly to money out of your pocket. A modular home, however, is built in the factory to pre-known specs, so there is much less waste.

5. Speed of construction cuts down the time frame tremendously, yielding interest savings on your construction loan.

As an owner builder goes through construction, interest accrues against the money that he has borrowed. Every month that goes by means more money that the owner builder owes in interest. Modular construction will drastically reduce the time needed to build the home, and you will therefore have less interest payment costs.

6. Less to manage.

This seems simple and obvious, but it’s vitally important, especially with owner builder construction. If you have never built your own home before, you will quickly realize that managing the myriad of sub-contractors can become a real burden. But, if you build a modular home, you will have much less work to oversee. Depending on the specific modular package that you purchase, you may have only one or two things to do to finish the home.

7. Built to meet or exceed local standards.

Modular homes nowadays are going to be engineered specifically to meet your local building code requirements. It takes a lot of the design and management off the shoulders of the owner builder. This means no more sweating over county code inspections.

8. Makes owner builder construction possible for some people who otherwise would need to hire a GC.

Because the process is simple for the customer, modular construction lends it self perfectly to owner builder construction. You can very easily build your own home without having to hire a general contractor. This will mean large savings in time and money for the construction of your home. There are many examples where the owner builder would not have been able to manage the project without a GC unless they went with a modular home.

Chris Esposito is an expert in owner builder construction loans and provides financing through his Owner Builder 101 program. If you want to learn more about building your own home and cutting out the costs of a GC, go to www.OwnerBuilder101.com, or call (877) 876-3688.

Fha Refinance - Florida Refinance - Escondido Refinance 858
By Alex Refintage

They can determine whether you should opt for a fixed rate mortgage or an adjustable rate mortgage (ARM). In this case you may try other lenders to secure the loan. Thus, you can get a good refinance mortgage rate if you have a good credit score and credit history - and you have the luxury of choosing from among the many Florida refinancing companies ready to offer you their services. Low refinance rates helps save money which can be used to pay down the principal of the loan, thus further reducing payments. You already know the benefits of refinancing, but what are its rates? Read on to find out. The key factor for the majority of borrowers when deciding between a fixed and adjustable rate mortgage is the period of time you expect to stay in the home. To get your FREE Mortgage Refinancing Video Toolkit, visit RefiAdvisor.com using the link below. Low refinance rates sure make borrowing seem like a piece of cake. -Fixed refinance rates: In this case the interest rate does not change with time. Consider the time span you intend to stay in your home with possible relocation of your job, growing family, downsizing of home, lifestyle changes and many more. If the rate available for a home loan refinance is very low then it can prove to be a good deal saving of money. This results into the rising refinance home mortgage rates, because lenders restrain from presenting their loans with lower capitulates. He can compare and judge the best loan package offered by the various lending companies and the banks. The upfront payment is considered to be a particular percentage of the complete loan amount. In essence, refinancing a mortgage or other type of loan can lower the monthly payments owed, either by changing the loan to a lower interest rate or by extending the period of loan so as to spread out the repayment over a longer period of time. -Should you contract for a shorter time period on your mortgage?. Shorter loan tenure may raise the interest rate a little bit. A home loan refinance always lowers down the interest rate from the prevalent interest rates. Processing fees, approval fees, closing fees, etc., may all add up to a significant amount of money. This leads the investors to wait for the higher capitulates and leaving off the current capitulates. If the first loan had a fixed interest rate mortgage, which has by now declines significantly, then a new loan with a more favorable interest rate will be highly advantageous for you. A Fixed rate of interest always remains unchanged throughout the period of the repayment of the loan. -Cash-Out refinance rates: This option will not offer you an opportunity to decrease the monthly payment with an attractive rate. It is very important to know about the detailed financial limitation of the various refinance rates. The investors of the second market are the key controllers of the current refinance home mortgage rates. With a flourishing economy, the future capitulates become more prospective than the present capitulates. The initial fixed rate period is followed by adjustable intervals. If the thought of paying your high housing loan interests makes you feel queasy, then opt for refinancing and get rid of all your worries and anxieties. Low refinance rates reduces interest costs and helps save more money at the end of month that would.

Learn more about Fha Refinance Florida Refinance Escondido Refinance

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Refinancing Rates - Home Loan Refinance - Florida Refinance 365
By Alex Refintage

Car Refinancing is the process by which someone pays off an existing car loan by borrowing a new loan. Before shopping for another loan, it is important to make sure that your original loan is a simple interest loan and there are no prepayment penalties. Instead, request online quotes from three to four lenders, and carefully review offers. Qualifying for an auto loan refinance is easy even with less than perfect credit. Refinancing car loans involves switching from one lender to another for a lower interest rate. Qualifying for an auto loan refinance is easy even with less than perfect credit. Each monthly payment will be $207.10 and a final interest bill of $2,426.74. After receiving e-mail from disgruntled people who want help to get out of their current situation with a finance company, we decided to feature information regarding these issues. Learn to fix your credit before you apply for a loan. If you financed a car within the last 15 months, you may now be able to beat that rate with a refinance car loan. Claire Calkin operates several websites offering advice to people wanting to refinance their vehicles. After applying for auto refinance the interest rate drops to 6% and then the loan will be paid off quicker. Our best advice to you is to shop around and get the best rate possible for your new car loan, because you may not want to do it again for the life of the loan. Get your credit score to at least 680 before you apply for a loan. At that time the interest rate was low and you were happy with your lenders. After receiving e-mail from disgruntled people who want help to get out of their current situation with a finance company, we decided to feature information regarding these issues. Car Refinancing is the process by which someone pays off an existing car loan by borrowing a new loan. Refinancing car loans involves switching from one lender to another for a lower interest rate. Explore the internet for a company with the best options for your current situation. Right now the average rate on a used car loan is about 8 ½ %. Furthermore, refinancing options only apply to vehicles less than five years old. First ask yourself what you wish to achieve by way of refinancing your loan - A lower interest rate or a different type of financing altogether. See your state motor vehicles department for the fees associated with that. Good news is that the loan interest rates are dropping day by day. If you dont make the payments, the lender will repossess the car. For more information on the best Car Financing Scams try visiting Car Buying For Idiots located at where you will find valuable information on buying cars, buying used cars and other information. Dont pay a cash deposit for your financing loan because if the deal goes bad, you cant get your deposit back. Check the credibility of the lender and then make an online application for a speedy approval. The following is an example of how much money can be saved with car loan refinancing. Some lenders absorb that charge while others pass it along to the customer under the guise of processing fees.