•2 min read
Unique Homes Financing: Loans for Non-Traditional Properties
Finding financing for unique or non-traditional homes requires specialized expertise and access to portfolio lenders who understand these distinctive properties. Whether you're interested in a manufactured home, geodesic dome, houseboat, or another unconventional dwelling, we have lending solutions tailored to your needs.
What Are Unique Homes?
Unique homes encompass a wide variety of non-traditional properties that don't fit standard mortgage guidelines:
- Manufactured and Mobile Homes: Factory-built homes transported to their location
- Geodesic Domes: Energy-efficient spherical structures
- Houseboats: Floating homes with permanent moorings
- Converted Buildings: Former churches, schools, or commercial buildings
- Tiny Homes: Small dwellings on permanent foundations
- Earth-Sheltered Homes: Underground or bermed structures
- Alternative Construction: Straw bale, shipping container, or other unique builds
Program Highlights
Key Features
- Manufactured home financing available
- Non-traditional property expertise
- Flexible underwriting guidelines
- Portfolio loan options
- Specialized lender network
Basic Requirements
- Minimum 620 credit score
- 5% minimum down payment
- Property must meet habitability standards
- Location and foundation requirements vary
- Higher down payments for some property types
Types of Unique Properties We Finance
Manufactured Homes
- Must be built after June 1976
- HUD-compliant construction
- Permanent foundation required
- Real property classification
- Single and double-wide options
Geodesic Domes
- Energy-efficient design
- Structural engineering reports
- Comparable sales analysis
- Insurance availability verification
- Specialized appraisal required
Houseboats and Floating Homes
- Permanent mooring required
- Marina approval documentation
- Utility connections verified
- Insurance requirements met
- Coast Guard documentation
Converted Properties
- Proper zoning compliance
- Certificate of occupancy
- Complete conversion documentation
- Safety code compliance
- Residential classification
Financing Options
Portfolio Loans
- Kept in-house by lender
- Flexible guidelines
- Non-conforming properties
- Creative solutions
- Competitive rates available
Specialized Programs
- Manufactured home loans
- Construction-to-permanent financing
- Renovation loans for conversions
- Land-home packages
- Alternative documentation options
The Application Process
Step 1: Property Evaluation
We assess your unique property to determine:
- Eligibility for financing
- Required documentation
- Potential lenders
- Special requirements
Step 2: Lender Matching
We connect you with lenders who:
- Specialize in unique properties
- Offer portfolio products
- Understand your property type
- Provide competitive terms
Step 3: Documentation
Gather property-specific documents:
- Engineering reports
- Zoning compliance
- Insurance quotes
- Specialized inspections
- Manufacturer certifications
Step 4: Underwriting
Specialized review process includes:
- Property-specific analysis
- Market value assessment
- Comparable property research
- Risk evaluation
- Condition requirements
Pros and Cons
Advantages
- Unique property financing available
- Specialized expertise and guidance
- Portfolio loan flexibility
- Non-conforming property options
- Creative financing solutions
Considerations
- Potentially higher interest rates
- Limited lender options
- Stricter documentation requirements
- Higher down payment requirements
- Longer processing times
Best Candidates
Unique home financing works well for:
- Manufactured home buyers
- Alternative lifestyle enthusiasts
- Eco-conscious homeowners
- Creative property seekers
- Non-traditional construction advocates
Frequently Asked Questions
What types of manufactured homes qualify?
Manufactured homes built after June 15, 1976, that meet HUD standards can qualify. They must be on permanent foundations, classified as real property, and meet lender-specific age requirements.
Are interest rates higher for unique properties?
Rates may be slightly higher due to the specialized nature and potentially limited resale market. However, portfolio lenders often offer competitive rates for well-qualified borrowers with adequate down payments.
Can I finance a tiny home?
Tiny homes on permanent foundations that meet local building codes may qualify for financing. Those on wheels are typically considered RVs and require different financing options.
What about earth-sheltered or underground homes?
Earth-sheltered homes can be financed with the right lender. They require specialized appraisals, engineering reports, and verification of proper waterproofing and ventilation systems.
How do conversion properties work?
Former commercial buildings converted to residential use can qualify if they have proper zoning, certificates of occupancy, and meet all residential building codes. Complete conversion documentation is essential.
Tips for Success
Before You Apply
- Research property eligibility: Verify your unique home meets basic financing requirements
- Gather documentation early: Collect all property-specific documents
- Check insurance availability: Ensure you can obtain homeowners insurance
- Review local regulations: Confirm zoning and code compliance
- Get specialized inspections: Address any issues before applying
Finding the Right Lender
- Work with experienced mortgage brokers
- Seek portfolio lenders
- Compare multiple options
- Ask about specific property experience
- Review all terms carefully
Ready to Finance Your Unique Home?
Don't let non-traditional property features prevent you from achieving homeownership. Our team specializes in connecting unique property buyers with the right lending solutions.
Contact us today to discuss your unique home financing needs and explore available options. We'll help you navigate the specialized lending landscape and find the perfect loan for your distinctive property.
Related Resources
Learn more about your mortgage options:
- Explore our unique home financing
- Explore our mobile home loans
- Explore our loan programs
- Explore our commercial property loans
Ready to take the next step?
Loan terms and availability subject to property eligibility, credit approval, and lender guidelines. Not all unique properties will qualify for financing.
