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The Facts About  Unique Home Financing

Get Creative Financing For Unique Properties

Fed up with the appearance of conventional homes? Looking for a unique home or property but finding it difficult to get financing? If so, keep scrolling and learn why lenders fear financing unique properties.

 

Why Is Unique Home Financing So Difficult?

 

Unique homes come in all shapes and sizes. For example, Earthships are made from recycled materials like used tires filled with compressed soil. Berms and Earth Shelters along with Ships are built to harness natural warmth of earth and light from the sun. Be it the lure of an ancient design preference or to live within an eco-friendly environment, unique homes like those mentioned above are growing in popularity.

Many unique homes are designed with solar power and remain energy efficient throughout the year. Berm homes and Earth Shelters are disaster resistant.

When fed up with Ranch and Cape Cod style homes, many home buyers find unique homes like these an attractive option over “cookie-cutter” houses.

But, even if desirable, finding the financing options to build a Dome, Log, Berm or Earth Shelter home is difficult.

 

Why Lenders Don’t Approve Financing For Unique Homes?

 

Most banks and lenders are unwilling to lend money since there are most likely no comparable sales in the area. A lack of similar homes sold that have in the last 12 months make the appraisal process hard. Since finding three or more similar unique properties in the same area is almost impossible, lenders are less confident.

Another reason why most lenders fear unique home financing is because these properties are hard to sell. Since unique home mortgages are not easy to obtain, many buyers opt in for conventional homes.

Lenders like HomePromise will look at creative ways to ensure you get the financing you need to buy or refinance the unique home of your dreams while being confident the mortgage you get won’t hurt in the long run.

 

berm home financing, earth home

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Berm Homes

Berm homes have dirt pushed against 2-3 sides of the house. The exterior walls are typically constructed of concrete block. The earth surrounding this type of home insulates helping to maintain the indoor temperature. 

Like earth shelter homes, berm houses are normally built where the exposed walls face south absorbing heat. Skylights may be used to increase ventilation and sunlight in north facing parts of the home.

berm home financing

Earth Shelter Homes

These types of homes are great for those looking for environmentally sustainable living. Like Earthships, Shelters are built in multiple ways with many covering the roof with earth. This style of roof is commonly referred to as “living roofs”  or “green roofs.”

Like Berm homes, earth shelters (also called Earth Homes) withstand weather conditions better than conventional homes, are energy efficient and provide plenty of natural light and fresh air with or without an earth roof.

EARTH SHELTER FINANCING

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earth shelter financing,

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Earthship Homes

While most earth sheltered style homes are constructed from stone, brick, lumber, or concrete, an Earthship is built from natural and recycled materials. Earthships are environmentally friendly structures.

When building this type of structure, traditional construction material is replaced with recycled materials like aluminum cans, plastic bottles, paper products like cardboard and, used tires filled with compressed soil.

EARTHSHIP FINANCING

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homepromise, unique homes, dome homes, berm homes, earth homes, off grid properties

Dome Homes

dome home is a house, like any house, but built in the shape of a sphere. Dome homes usually incorporate some type of shell framework during construction…

dome home financing

Hangar / Airpark Homes

Do you dream of living in a residential airpark community? As a Pilot, could you imagine parking your plan at home? HomePromise can help you finance your dream of landing your personal plane in a fly in community.

HANGAR HOME FINANCING

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hangar home financing, aviation home financing, modern architecture homes

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barn home financing, homepromise, post and beam home

Barn Homes

Depending on your unique situation, HomePromise will work with you to make your pole barn, post & beam or Barn home a reality.

BARN HOME FINANCING

Timber Frame Homes

Financing a timber frame, barn home, post and beam style home, pole barn house, post frame home or other post frame building is possible!

TIMBER FRAME HOMES

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timber frame home financing, homepromise