Financing 3D printed houses?

Financing 3D printed houses?

Investor · Oakhurst, CA · Member since 2016 · 4 posts · 1 vote

Are there lenders out there willing to finance 3D-printed houses?

I'm part of a small group of people looking to build 3D-printed houses near Ithaca, NY. We're looking for final financing, not construction loans. And the houses will be fully permitted by the local building department.

I know 3D-printed houses are very new and because of that they are not much accepted yet, but I'm hoping someone out there might be interested in our project. Ideally, we'd like to avoid non-QM mortgages, but depending on the terms, we might be open to that.

And a follow-up question: Would 3D printed houses necessarily be considered non-QM? An agent from a prominent lender told me that we could try a non-QM lender, but he didn't sound confident about what he was telling me. In my uninformed mind, a 3D printed house is still a concrete house, just not cast concrete. It still goes through the structural engineering approval process.

Thanks for the help.

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  • Stephanie JacobsonBusiness Member
    Real Estate Agent · Ithaca, NY · Member since 2016 · 427 posts · 323 votes
    4y
    Quote from @Ryan Harbert:

    Are there lenders out there willing to finance 3D-printed houses?

    I'm part of a small group of people looking to build 3D-printed houses near Ithaca, NY. We're looking for final financing, not construction loans. And the houses will be fully permitted by the local building department.

    I know 3D-printed houses are very new and because of that they are not much accepted yet, but I'm hoping someone out there might be interested in our project. Ideally, we'd like to avoid non-QM mortgages, but depending on the terms, we might be open to that.

    And a follow-up question: Would 3D printed houses necessarily be considered non-QM? An agent from a prominent lender told me that we could try a non-QM lender, but he didn't sound confident about what he was telling me. In my uninformed mind, a 3D printed house is still a concrete house, just not cast concrete. It still goes through the structural engineering approval process.

    Thanks for the help.

    Whoa. I have no idea, but this is awesome. Can you share some more info about the project?

    I have a private lender in PA who will do all sorts of alternative financing. I’d be happy to connect you to him- sent you a private message!
  • Scott WolfPro Member
    Lender · Boca Raton, FL · Member since 2014 · 1k+ posts · 956 votes
    4y

    @Ryan Harbert, if they're permitted by the local building department, I see no reason that conventional financing wouldn't work.  Reach out to some local lenders in Ithaca, and see what they think.

  • Stephanie JacobsonBusiness Member
    Real Estate Agent · Ithaca, NY · Member since 2016 · 427 posts · 323 votes
    4y

    Yes- I would try Rick Annunziata with Tioga State Bank first. 

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