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Old 08-30-2018, 03:05 PM
 
1 posts, read 2,336 times
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What makes a cabin considered year-round? I specifically want to know what a bank will look for in order to provide a conventional loan. I have learned that the only possible way the bank will issue a conventional loan on a cabin is if we put down 20% and it is considered a year-round cabin. Otherwise they consider it seasonal - and they will only offer alternative loans like balloon, home-equity, etc.
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Old 08-30-2018, 06:00 PM
 
Location: Twin Cities
5,831 posts, read 7,708,765 times
Reputation: 8867
A heating system. Seasonal cabins are not adequately heated for the winter.
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Old 08-31-2018, 08:55 AM
 
5,341 posts, read 14,137,403 times
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Quote:
Originally Posted by aewaew View Post
What makes a cabin considered year-round? I specifically want to know what a bank will look for in order to provide a conventional loan. I have learned that the only possible way the bank will issue a conventional loan on a cabin is if we put down 20% and it is considered a year-round cabin. Otherwise they consider it seasonal - and they will only offer alternative loans like balloon, home-equity, etc.
Yep, a heat source in every room and water that can be run/operated year round.
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Old 11-29-2019, 03:33 AM
 
10 posts, read 7,643 times
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Insulation and heat
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Old 12-26-2019, 05:26 AM
 
Location: Minnesota
2,609 posts, read 2,188,257 times
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Plumbing is adequately insulated and deep enough so they won't freeze up in winter.
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Old 12-30-2019, 04:40 PM
 
Location: MN
3,971 posts, read 9,675,473 times
Reputation: 2148
Quote:
Originally Posted by aewaew View Post
What makes a cabin considered year-round? I specifically want to know what a bank will look for in order to provide a conventional loan. I have learned that the only possible way the bank will issue a conventional loan on a cabin is if we put down 20% and it is considered a year-round cabin. Otherwise they consider it seasonal - and they will only offer alternative loans like balloon, home-equity, etc.
Plumbing and heating - which to have adequate heating, you need to have the place insulated.
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