Earthship Home Financing


It’s a difficult process to obtain Earthship home financing. Most lenders will not lend you the money for these types of homes because there are few (if any) comparable sales in the area. In other words, lenders have no way to determine the home’s value. To buy or refinance an Earthship home, many people must pay cash. But what if you can’t afford to deplete your savings?

Is Earthship Home Financing Impossible?


Building an Earthship requires recycled materials. This type of home is energy-efficient and disaster-resistant. Many homeowners find them an environmentally-friendly option for living off-grid and for saving thousands each year with renewable energy. But, even if desirable, most lenders won’t approve mortgages or financing because of problems in getting appraisals.

A lack of similar homes in the area makes the appraisal process difficult. Lenders only feel comfortable lending when an appraiser finds comparable homes nearby that have sold in the last 12 months. The problem is that finding three or more Earthship homes in the same area is nearly impossible.

For those looking to purchase or refinance energy-efficient homes, there are unique challenges with Earthship home financing. You might have great credit and a great job but still get turned down for a mortgage. If this sounds familiar, then you need creative Earthship home financing with HomePromise.


Why Lenders Deny Financing For Earthships


Beyond the comparable sales issue, another problem lenders face is the fear of unique homes like Earthships not selling. Most lenders get nervous thinking about a possible foreclosure on a unique home. Selling a home fast is important to keeping foreclosure costs for a lender to a minimum.


An Alternative Approach To Earthship Financing


If you want to buy or refinance a unique home like an Earthship, you’re probably going to be denied by most lenders, but don’t give up.  It is possible to finance your energy-efficient dream home – an alternative approach is key!

You can apply with your bank or credit union for help but most likely they won’t fund a mortgage for unique homes for the reasons already mentioned above. If they do provide mortgages for unique homes, the interest rate will usually be higher and the mortgage will usually have an adjustable rate which runs the risk of a higher payment in the future.

Problems With Hard Money Lending

“Hard Money” lending is another option you can try.  A Hard Money lender is a non-bank mortgage lender that can approve loans on unique properties.  The problem with Hard Money lenders is that their interest rates are even higher than banks and credit unions.  Plus, you need to watch out for the fine print buried in dozens of pages of mortgage documents. Hard Money lenders are notorious for non-standard mortgage documents that can trap you in a mortgage that will not be affordable for the long term.  The fine print may include a balloon payment meaning that the entire mortgage balance has to be paid off within just a few years after you get the loan.

Creative Financing With HomePromise Corporation

To sum up, most lenders will always be nervous about Earthship home lending because unique homes are not common. But, lenders like HomePromise will look at creative ways to ensure you get the mortgage you need to buy or refinance the Earth Sheltered, Earthship, Dome, Grain Silo, Berm, or Log Home of your dreams – and you can be confident that the mortgage you get won’t hurt you in the long run.


Apply For Financing With Us Now

Getting approved for unique home financing is difficult. It doesn’t have to be. Because your dream home is unique, approval will require some creativity. We are here to help you.






A couple quick questions and you’re on your way to getting a free quote. So fast you’re done before your cup of coffee is.


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