Does anyone here know of a bank/mortgage company that has a good track record for providing financing on "Metal Building Homes"? (meaning homes that are built inside of metal-framed structures)

I would really appreciate any help you guys can provide.

Thanks.

Your best shot, unless you're rolling in money, is local banks who know you and your family and know that y'all are honorable people who will pay their debts. If your local bankers won't make the loan, you're probably SOL.

I haven't tried myself, but my understanding is these days, for home mortgages, regardless of type, bankers are usually requiring high percentage down payments (on the order of 20%) unless your credit is purer than the driven snow and you don't need a loan anyway.

You know the old definition of a banker.....He is glad to lend you an umbrella, when it's not raining.

+1 on what Gato said.

Plus on residential you'll have to provide income tax return, pay stubs etc.

If you have a corporation you may be able to bypass some of the lending requirements at your local bank.

If you've a rich uncle or friend, get him to pay cash for the land/construction or cash out the house if it's already built and give him a note at 6 to 8% interest with the house as security. I know some say balloons are for clowns, but you could do a 5 year balloon note with a 15 or 20 year amortization, or even a two or three year interest only note, and refinance later.

Best
GWB

Check with your Credit Union. If you are not a member, see which ones you can join simply because of where you live. Primeway FCU has a branch in Tomball, Brenham, not sure where else.

ES: If you are wanting to build outside of city limits, try one of the "farm" lenders (Texas Land Bank, Capital Farm Credit, or Lone Star Ag Credit) they will all finance such a building but as Gato says, they do require a 20% down payment. One advantage of this type loan is that you are a stockholder and usually receive a patronage payment every year.

Eland Slayer,

Your best bet would be to ask the company that is selling you the metal frame. Most companies have "preferred" lenders for construction loans for owner builders.

Right now the construction loan market remains frozen with very few lenders offering these types of loans. The idea to raise capital from private sources is as good as any. Once the house is complete, banks offering conventional mortgages won't care if the house is made of wood framing or steel.