Log Home Financing?
November 25th, 2009 | by admin |pecflhrt asked:
We spent the better part of the day on the phone w/ lenders. We were approved the amount wanted, it was 100 % financing @ 6.850%. Then it came down to the home: Log home, 15 acres, rural area and the lenders pulled out. Reason being: “Not enough surrounding homes” (too rural) and “LOG house”. Question: Is there special lenders for log homes? Was this guy just tired of working with us for the day? Would they have continued with us w/ 20% down? Home is in Colo., subdivisions are close by, growth rate for area has BIG potential, we don’t plan on farming/ranching the land. Any educated/professional opinion/advise would be greatly appreciated! Thanks!
Concrete Floor Paint
We spent the better part of the day on the phone w/ lenders. We were approved the amount wanted, it was 100 % financing @ 6.850%. Then it came down to the home: Log home, 15 acres, rural area and the lenders pulled out. Reason being: “Not enough surrounding homes” (too rural) and “LOG house”. Question: Is there special lenders for log homes? Was this guy just tired of working with us for the day? Would they have continued with us w/ 20% down? Home is in Colo., subdivisions are close by, growth rate for area has BIG potential, we don’t plan on farming/ranching the land. Any educated/professional opinion/advise would be greatly appreciated! Thanks!
Concrete Floor Paint
No Responses to “Log Home Financing?”
By ogrendle on Nov 25, 2009 | Reply
Most lenders won’t do Log Homes. You should have told them up front and not wasted their time and your time. They may have been able to recommend another lender but if you wasted his day and ticked him off I wouldn’t help either.