Questions about constuction loans and home construction in general?

Question

My husband and I have 1 acre of land that is completely paid for and we would like to build a home now. I have been reading up on construction loans but I am a little confused about some things . I have read that you only pay the interest (for the amount drawn) each month until the house is certified to be occupied. If you wanted to ...will they allow you to pay on the loan also?

Also, we would like to do some of the work ourselves... do they require that every bit of work be done by a contractor?

Do we need to hire someone to coordinate things?? I work from home which is another house on the next acre so I will be around most of the time... but that is not to say much because I would not know if they were doing something wrong. I know that each day my husband and step father can look over things but who is to say that it would not be too late if something were done wrong. I am very naive about this process so please excuse me.

Would it be hard to get this type of loan with

Answer 1

Get as much resource as you can maybe is one  option,however it could be quite time consuming,here is one resource i have had good experience.http://home-mortgage.online-tips4u.info/...