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Goshen Farm
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Hi All: I live on top of a mountain in southwest montana. Our owner built home is about done. We have solar power and a compost toilet and these two things seem to be keeping us from getting a mortgage. We want one to finish some other buildings and drill a well. Have any of you ever heard of a mortgage company that will lend on a home with these atributes. We have plenty of equity in our home and land valued at 100 thousand plus. thanks
 

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We are just finishing an addition on our home that included tearing off 1/2 the old house. We got a construction loan(temporary) based on what the house will be worth when we are finished. We had to have an appraisal, stating homes current value and one based on our plans we had drawn ourselves. When we are done we will get a permanent motgage. But since you already have quite a bit of equity, I should think you could get a home improvement or home equity loan. I do remember one house that we wanted to buy that had no bath and we ran into the same issue but we were buying you already own and this was 10 yrs ago. This time we went to a mortgage company insteade of a bank, you might also try an inhouse loan where the person makes the desicions is right in front of you (as opposed to a board somewhere else) That helped us when we first bought our home and did not have the greatest credit and it was our first. Good luck Lyte
 

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Keep trying different banks and mortgage companies, It sound like a lot of hard work but someone will give you what you need. I'm real interested to here how this works out, Keep me posted.
 

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If the property is splittable try to just borrow against a portion of the property. They wil usually loan against 75% of the value of vacant land.
Kirk
 
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