Q: We are a childless couple in our 60's Find out more and ready to retire from the NE to the SW- New Mexico is our choice. Considering that we are not abundant & have no need for a 3-4 bed room house, but DO require a big lot, a minimum of 3/4 acre, we are interested in building an economical, SMALL energy- efficient home, like the ones developed by Laura & Alex Sanchez in their book, 'Adobe Houses for Today'. We are particularly thinking about one of only 862 sq ft, plus a garage. How much trouble are we going to have getting financing for a home of this size in a decent development or lot near standard power and water? Can you suggest any lenders we may talk with in the Silver City area of NM ?? A: (Quentin Wilson) I do not understand the Silver City scene however up here in the environments of Espanola loans on adobe houses are nearly routine.
In both cases I begin with the bank president in these small banks. One president of Valley purchased an adobe home that I had built so during his period the bank was large open to my concepts. Another president who likes adobe then went to the Community Bank and is still there. We even did business with the Bank of America in Espanola once - What do you need to finance a car. If the rural argument can be made then you would also be qualified for Farmers Home Administration (What jobs can i get with a finance degree). The name has actually altered however the individuals are the exact same. There are enough off the grid, off the wall, off stick developed building, off in every way kinds of individuals around Silver City.
Q: I need help in getting in contact with a broker that does building to permanent loan for a second house in North Carolina. This home will be log and what we require the most is a lender 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 permit us to utilize 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 seek a local, independent neighborhood bank in Learn more here your area that does construction lending.
Plus it will cost a lot more in costs due to the truth that they cant do anything themselves, such as evaluations. They have to work with building inspectors or designers which can face a great deal of money. There are community banks all throughout the country that do this kind of funding, plus you get the individual service dealing with someone regional. All business banks will utilize earned equity towards the down payment on your loan - What was the reconstruction finance corporation. They might balk if it is unearned equity such as inflated appraisals however you do not see much of that in today's environment. Q: My other half and I have fallen for an earth-berm home for sale up here in northern Wyoming, however we can't find conventional funding for it due to absence of compensations.
A: I would suggest that you get in touch with the regional, independent neighborhood banks in that area. They are more most likely to be able to do unconventional homes such as that instead of a big lender like Wells Fargo. Also, you may see if there is a mortgage company by the name of Affiliated Financial Group in that location. They are really valuable in doing that sort of financing. Q: We are attempting to build a "healthy house" in Tucson AZ utilizing natural products and no chemicals as much as possible. We are having trouble getting financing using "natural techniques" of termite control instead of the chemicals.
Q: My partner and I are trying to build a strawbale home and we are having difficulty getting a construction loan. We don't own the land yet - What does ltm mean in finance. What is a consumer finance company. Can we get a loan for both the lot and building for a strawbale house? We reside in Idaho, can you or do you understand anyone who can help us get financed? A: I would recommend that you call among your regional, neighborhood banks in regard to getting your house funded. There is a business called First Home loan Company in Colorado Springs that would look at doing your long-term funding. If you can get that arranged, then one of your regional banks would most likely do the building and construction loan for you.