Are Lenders not interred in Financing Shipping Container Homes??

Are Lenders not interred in Financing Shipping Container Homes??

Investor · Dallas, TX · Member since 2016 · 12 posts · 0 votes

From the builders and brokers I have spoken with doing my research on container homes I am realizing that once a builder has completed the build of a shipping container home they are having a problem selling their properties because 1. appraiser are having a tough time appraising them, and 2. Lenders are not financing the buyers interested in purchasing these properties because  they are unwilling to take the risk on this new concept. 

Does anyone know of Lenders that are willing to finance shipping container homes? And/Or are their builders that have been able to sale their shipping container homes on the open market?

I want to build a shipping container home... what advice is out their when it comes time for me to put the property on the market and sell it, and not have to hold the property for a long period of time because no lending institutions want to finance it?

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Joseph CacciapagliaBusiness Member
Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
5y

@Chris Scott several shipping container homes have sold in San Antonio for decent prices per square foot. I'm building one of my own at the moment, but I'm not financing it. I've been told by a few lenders that as long as I'm meeting local codes and zoning, I shouldn't have an issue refinancing when I'm done. The permitting and building process has been a bit of a pain, but part of that is probably due to my contractor selection. 

Joseph Cacciapaglia powered by Morty
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  • Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    5y

    There are lenders for Quonset hut homes, dome homes, and containers. The problem is you need comparable sales to get an appraiser to value the house. House meets local codes and is on residential lot?  

  • Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
    5y

    @Chris Scott I'd encourage you to work with a mortgage broker in your area. They might know of some lenders willing to provide financing for those.

  • Joseph CacciapagliaBusiness Member
    Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
    5y

    @Chris Scott several shipping container homes have sold in San Antonio for decent prices per square foot. I'm building one of my own at the moment, but I'm not financing it. I've been told by a few lenders that as long as I'm meeting local codes and zoning, I shouldn't have an issue refinancing when I'm done. The permitting and building process has been a bit of a pain, but part of that is probably due to my contractor selection. 

    Joseph Cacciapaglia powered by Morty
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