Q: We are a childless couple in our 60's and about to retire from the NE to the SW- New Mexico is our choice. Considering that we are not rich & have no requirement for a 3-4 bedroom home, but DO require a big lot, at least 3/4 acre, we are interested in developing an economical, SMALL energy- effective home, like the timeshare exit strategy ones designed by Laura & Alex Sanchez in their book, 'Adobe Houses for Today'. We are particularly interested in one of just 862 sq ft, plus a garage. Just how much trouble are we going to have getting financing for a home of this size in a decent advancement or lot close to basic power and water? Can you recommend any lenders we may speak to in the Silver City area of NM ?? A: (Quentin Wilson) I don't understand the Silver City scene but up here in the environs of Espanola loans on adobe homes are almost regular.
In both cases I start with the bank president in these small banks. One president of Valley bought an adobe home that I had constructed so during his tenure the bank was wide open to my concepts. Another president who likes adobe then went to the Community Bank and is still there. We even worked with the Bank of America in Espanola as soon as - How many years can you finance a boat. If the rural argument can be made then you would likewise be qualified for Farmers House Administration (What is the difference between accounting and finance). The name has changed but Click here for more the people are the very same. There are enough off the grid, off the wall, off stick constructed building, off in every way types of people around Silver City.
Q: I need help in getting in contact with a broker that does building and construction to long-term loan for a second home in North Carolina. This home will be log and what we require the most is a lending institution who will take or offer credit for the equity as cash for our down payment towards the loan. We have actually owned our land for 6 years and I can't find anybody who will enable us to use our land as a down. Any answer or guide you may have for us would be great, otherwise our dreams will come to end. A: I would recommend that you look for a local, independent community bank in your location that does building financing.
Plus it will cost a lot more in charges due to the truth that they cant do anything themselves, such as assessments. They need to hire building inspectors or designers which can face a lot of money. There are community banks all throughout the nation that do this type of funding, plus you get the personal service handling somebody local. All industrial banks will utilize made equity toward the down payment on your loan - What is a cd in finance. They may balk if it is unearned equity such as inflated appraisals however you don't see much of that in today's environment. Q: My hubby and I have actually fallen in love with an earth-berm home for sale up here in northern Wyoming, however we can't discover standard financing for it due to lack of comps.
A: I would recommend that you get in touch with the local, independent community banks in that area. They are most likely to be able to do unconventional houses such as that rather than a big loan provider like Wells Fargo. Also, you may see if there is a mortgage business by the name of Affiliated Financial Group because location. They are very handy in doing that sort of lending. Q: We are attempting to build a "healthy home" in Tucson AZ utilizing natural materials and no chemicals as much as possible. We are having trouble getting funding using "natural techniques" of termite control instead of the chemicals.
Q: My husband and I are trying to construct a strawbale house and we are having problem getting a building loan. We do not own the land yet - Why are you interested in finance. Why are you interested in finance. Can we get a loan for both the lot and building and construction for a strawbale home? We live in Idaho, can you or do you understand anyone who can assist us get funded? A: I would suggest that you call one of your local, neighborhood banks in regard to getting your house funded. There is a business called First Mortgage Business in Colorado Springs that would take a look at doing your permanent financing. If you can get that organized, then one of your local banks would most likely do the building loan for you.