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A good mortgage broker should be able to answer this for you.
Never heard of loans for these types. These are pretty new and not in my area. The first two will never be allowed out here for sure.
Watching the answers on this one. My bet is hard money loans.
Maybe a local lender, portfolio loan.
Cocoa Beach, FL
Lately there are some of the "tiny home" home builders that are working with banks to get people loans on tiny homes. But the lenders that are currently available are few at this time, but growing.
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You've come to the right place(AR) to find an answer -- hopefully a lender here and can assist with finding a source.
I do not know.
Good question but do not know.
Another great question
Interesting question. Your best arena will probably be a portfolio lender!
You will find the needed lenders by networking in your area. Private financing is sometimes the best option.
Mostly private lenders for these types of loans.
there's always an institution that will do something atypical....
Yes - I had to find one for a geo-desic dome - let me know by AR message if you need their contact info - they cover the US and are with a major bank...
Dan Carpenter I am limited to most conventional products when it comes to my buyers.
Mostly regional or very local small town banks, but they generally will require larger down payments and stellar credit. Plenty of options for geodesic/farm/log cabin type homes, but they're all beyond the reach of the greater secondary markets.
Lots of them. Your broker should be able to point you in the right direction for a reliable local outfit.
I agree with Diana Zaccaro!
It may depend on your area and the lenders who lend in your area. Perhaps a discussion with an appropriate mortgage broker may assist.
Try small family banks
Talk with a local lender and see if they have any recommendations.
That is a great question, Dan. I had no experience with financing a shipping container home or log cabin, etc. But since mobile houses and coops require special financing, I believe it can be the same for non traditional properties as well.
Best to have some equity in something more marketable, the resale value on these, other than the log homes, is generally not good.
Some may need construction loans, land loan first. Energy efficient loans like HERO and PACE are not great tools. Usually they find the lot first, figure out utilities then shop for a kit, prefab or log or ... the stranger they go as in single wide container box adapted to living shelter the more expensive the loan
A good lender and a portfolio loan is what comes to mind.
I am certainly far from well-versed on the topic, but perhaps some of the hard money lenders are willing to assume these risks? There are always people that are looking to find a niche. I imagine any type of financing for these properties would be contingent upon a fairly high down payment.
Like for tiny homes or home kits? I have not run into this issue yet, so when you find out let me know too! thank you.