Q: We are a childless couple in our 60's and ready to retire from the NE to the SW- New Mexico is our choice. Given that we are not rich & have no requirement for a 3-4 bed room house, but DO require a big lot, at least 3/4 acre, we are interested in constructing an inexpensive, SMALL energy- efficient home, like the ones developed by Laura & Alex Sanchez in their book, 'Adobe Houses for Today'. We are particularly interested in among just 862 sq ft, plus a garage. How much trouble are we going to have getting funding for a home of this size in a good advancement or lot near to standard power and water? Can you suggest any loan providers we may speak to in the Silver City area of NM ?? A: (Quentin Wilson) I do not know the Silver City scene but up here in the environs of Espanola loans on adobe homes are nearly regular.
In both cases I begin with the bank president in these little banks. One president of Valley bought an adobe house that I had developed so throughout his period 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 did organization with the Bank of America in Espanola as soon as - What was the reconstruction finance corporation. If the rural argument can be made then you would likewise be eligible for Farmers Home Administration (How do you finance a car). The name has actually changed however the individuals are the 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 require aid in getting in contact with a broker that does building to long-term loan for a second home in North Carolina. This home will be log and what we need the most is a lending institution who will take or offer credit for the equity as cash for our deposit towards the loan. We have owned our land for 6 years and I can't find anybody who will allow us to use our land as a down. Any response or guide you may have for us would be excellent, otherwise our dreams will concern end. A: I would recommend that you seek a local, independent community bank in your area that does construction lending.
Plus it will cost a lot more in charges due to the fact that they cant do anything themselves, such as examinations. They have to work with building inspectors or architects which can run into a lot of cash. There are community banks all throughout the nation that do this kind of financing, plus you get the individual service dealing with somebody regional. All commercial banks will use made equity toward the deposit on your loan - What was the reconstruction finance corporation. They might balk if it is unearned equity such as inflated appraisals but you do not see much of that in today's environment. Q: My other half and I have fallen in Click here for more love with an earth-berm house for sale up here in northern Wyoming, but we can't find conventional funding for it due to absence of comps.
A: I would recommend that you call the regional, independent neighborhood banks in that location. They are more likely to be able to do unconventional houses such as that rather than a big lender like Wells Fargo. Also, you may see if there is a mortgage business by the name of Affiliated Financial Group in that area. They are very helpful in doing that sort of lending. Q: We are trying to develop a "healthy house" in Tucson AZ using natural products and no chemicals as much as possible. We are having problem getting funding utilizing "natural techniques" of termite control rather of the chemicals.
Q: My partner and I are trying to build a strawbale house and we are having trouble getting a building and construction loan. We do not own the land yet - What are the two ways government can finance a budget deficit?. How Find out more to finance a second home. 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 know anyone who can assist us get funded? A: I would suggest that you contact 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 take a look at doing your long-term funding. If you can get that organized, then one of your local banks would most likely do the building and construction loan for you.