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.
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!
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.