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Can I get Financing and Insurance?
If a project can get a permit, it can usually get insurance and financing as well, but be prepared to educate your mortgage broker and insurance agent. Often mortgage brokers will have problems finding “comps” (comparable properties) in the area where you would like to build. Many have found that local community based banks are most open to financing straw-bale homes and some will even give a special rate for energy efficient homes. As a last resort, some owners with non-bearing projects have described their projects as “post and beam with cellulose insulation” in order to obtain financing. This practice in not advised when obtaining insurance. |
