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Old 07-13-2017, 07:54 AM
DMP DMP started this thread
 
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Does anyone have insight into getting financing for a log home in the Durham area? Not many "comps" so banks don't want to finance Suggestions?
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Old 07-13-2017, 07:58 AM
 
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Is it a regular house, just constructed of logs? In other words, is the inside finished like any other house? Walls, floors, etc.? Appliances? Bathrooms?

If so, I can't imagine why the exterior construction material would make it impossible to appraise or finance. Try a mortgage broker or credit union maybe?

Last edited by BC1960; 07-13-2017 at 08:11 AM..
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Old 07-13-2017, 08:07 AM
 
Location: NC
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How far north in Durham? I know for a fact there are several log homes in Person County, mainly at Hyco Lake and Mayo Lake. But even if they aren't at the lake, there are many of them all over the county. I've seen them while driving around. I would think you could find some comps in Timberlake or Rougemont, too.
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Old 07-13-2017, 08:24 AM
 
Location: NC
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One of the big problems with log homes is finding an insurance company to insure them. Is it bare log with no sheetrock on the inside of the exterior walls? There can be some problems with log homes and banks do not usually like that kind of risk.
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