It is actually not difficult at all to get financing for steel frame/metal homes. In fact, there are a lot of companies and institutes out there that would provide some construction financing or permanent loans to help you build your ideal metal built home. There would be some medium to high-interest rates; however, this can be handled through good money management and responsible payment of the loan. Also, construction companies usually have their own financing partners and can finance your home building as well as construct it at the same time.
Of course, to get a mortgage you have to have a good credit score. If you have been living in rental properties, then our partners RentReporters can help you out and turn your rental history into extra 40 credit score points on average. It is worth checking out this blog post, where we explain how it works and how you can easily turn your rent history into a higher credit score. A good stepping stone for becoming a homeowner 😉
If you still have trouble obtaining finance look at local banks and home consulting firms in your area. A Google search will reveal many home consulting businesses and banks which would provide housing loans. Simply type in your area, and you’ll be able to shortlist a number of firms which may help you meet the financial demands for the construction of your metal building or steel frame home.
Who Shall I Contact?
If you wish to buy an existing metal built home, we recommend you contact Wells Fargo. This company is well known for new home mortgages, although unfortunately, they do not finance new construction projects. Wells Fargo has an online application form for housing loans, so you won’t need to contact anyone personally to apply.
If you do have any questions or concerns, you can ask a customer service representative for assistance by calling the Wells Fargo office in your area. For the online facility, visit the Wells Fargo website and apply online.
As mentioned in the previous section, most construction firms in your area have strong partnerships with local banks or credit unions which will provide you with the financing for your new metal building home project.