Unconventional homes may not qualify for conventional loans

Unconventional homes may not qualify for conventional loans

Financing biggest barrier for nontraditional structures
Jon D’Aleo, a Formwork’s builder, said his “earth-sheltered” home West Third Avenue meets the cosmetic standards of his neighborhood even though the house is built into a hillside.
Tiny homes, such as the one Greg Parham, owner of Rocky Mountain Tiny Houses, lives in with his dog in Durango, usually won’t qualify for conventional mortgages unless they are built on a foundation.
Greg Parham inside his tiny house in Durango.

Unconventional homes may not qualify for conventional loans

Jon D’Aleo, a Formwork’s builder, said his “earth-sheltered” home West Third Avenue meets the cosmetic standards of his neighborhood even though the house is built into a hillside.
Tiny homes, such as the one Greg Parham, owner of Rocky Mountain Tiny Houses, lives in with his dog in Durango, usually won’t qualify for conventional mortgages unless they are built on a foundation.
Greg Parham inside his tiny house in Durango.
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