I am trying to compile as much information as I can about two major subjects as they relate to straw bale construction. The first is mortgages and other straw bale funding options. The second, which I will discuss in another post, is insuring a straw bale project. It’s no secret that the mortgage industry is not what it used to be. I imagine that we could have a long conversation relating to the reasons for the sudden decline in available financing; however, that’s not what I’m most interested in. What I really want to know is: how do we move forward under current conditions? I would love to hear what you know about how to make financing a straw bale project happen. Consider that the lack of straw bale lending can stop projects in their tracks and your input could be the difference between success and the abandonment of a dream.
Perhaps you recently started, or even completed, your own straw bale project. Did you get financing? Did you get a standard mortgage or did you have to get creative? What was your down payment percentage? Were you able to use local financing or did you have to shop around to a larger, more national scale market? Any and everything you can share with me is appreciated.
My goal here is to create a document to help other people learn what it takes to finance their straw bale dream. I have lots of people ask me about finding specific lenders who will loan on straw bale. I can see the importance of having an updated list of lenders available (in other words, please supply me with names and contact information for those who provided your funding as well so I can list them in the document); however, I think it’s more important to know what details are involved in finding financing no matter where you live and who is immediately available to you.
My point is simply this: if I can help teach people how to get financing in any market, then the list of those willing to provide financing will continue to grow. If we stick with the same lenders over and over again, the list will ultimately shrink as policies and personnel change as we have seen over the last few years. It’s like the old saying: give a person a fish and they will have a meal. Teach a person to fish and they will never go hungry.
If you have details to offer, whether it is names and contact information for lenders, or details of what it took to get financing, please email me directly (Andrew@strawbale.com) and share that information. I look forward to compiling everything I get and putting it in one place for people to use. The more recent your data, the better, by the way as I’ve found that even people I used to rely on for funding have stopped providing it in the “new” financing market. Thanks for your help!
About the Author
Andrew Morison is a specialist in straw bale and green construction. He has shown thousands of people how to build their own straw bale projects through his comprehensive series of instructional straw bale, concrete foundation, and plastering DVDs, as well as his hands on workshops. You can check these out at www.StrawBale.com/store.
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