You’ve purchased your land, you’ve surveyed all of your options and you know what type of structure you need, but do you know how you are going to pay for it? The sooner you can answer this question, the smoother your entire project will go. The vast majority of our customers pay for their structure with cash, but there are plenty of people who seek out some sort of financing for their project. If you plan on paying with cash, there is no need for you to continue reading this page, but if you are considering financing, there are a few things you need to know.

Financing for this type of project is very different from getting a typical home loan. How you are going to use the building is the first thing you must establish because it dictates the type of loan you may need. Financing for commercial agriculture and storage structures are one thing whereas residential structures are completely different and generally harder to qualify for.

Some of the common types of loans:

  • Construction loan (need blueprints to secure it)
  • Personal loan (to fill a small gap between cash on hand and cost of structure)
  • Lot Loan (finance your land purchase and use cash for your structure)
  • Farm Loans (for commercial agriculture buildings)
  • Home Improvement Loan (for remodel projects instead of new structures)

We do not offer financing ourselves but we are happy to talk with lenders for any technical questions that they might have. Most of our customers who finance their projects have the best luck by seeking out smaller local/regional banks & credit unions. The common national lenders generally aren’t interested in these types of projects. Some people have luck with large lenders such as Farm Credit Services or Light Stream but we generally recommend smaller lenders like Washington Federal or the equivalent in your state. You are going to want to shop around as much as possible because terms for these types of loans can be very different from what you would expect when taking on a mortgage.

Remember that this is something you should be considering from day one. Financing these types of structures is nothing like a typical mortgage and it can take you by surprise. Understanding your budget and usage goals before diving into how you are going to build the structure to can make the entire process simpler. While we don’t want you to rule out financing options, we do strongly encourage you to pay as much as you can in cash or to save yourself a headache and get the best deal.

As always, give us a call if you are ready to talk through your project and make your dream a reality.