|Financing for Alternative Building Technologies||<– Date –> <– Thread –>|
|From: Mac Thomson (ganeshrmi.net)|
|Date: Tue, 28 May 1996 13:55:33 -0500|
We just had a mortgage banker speak to our group about getting a home mortgage in a cohousing community. He felt that a loan for a home in cohousing should present no special problems. But then we got into the issue of financing homes built using alternative technologies. (:-<) When he asked who in the group was considering alternative building technologies, everyone raised their hands. He then went on to explain that receiving financing for a house incorporating alternative building technologies would be very difficult. The problem is that loans are made based on the appraised value of a home and appraisals are based on recent sales in the area of comparable homes. And since there are almost no sales of comparable homes, they can¹t give a loan for non-conventional housing. What have any of you done to creatively finance "experimental" building methods? THis could be a real sticking point for a number of households in our group. -- Mac Thomson San Juan Cohousing ganesh [at] rmi.net Durango, Colorado "If war is the violent resolution of conflict, then peace is not the absence of conflict, but rather, the ability to resolve conflict without violence." - C.T. Lawrence Butler
Financing for Alternative Building Technologies Mac Thomson, May 28 1996
- Re: Financing for Alternative Building Technologies Eric D. Hart, June 3 1996
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