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According to FHA, log homes are considered a non-standard housing style. A non-standard housing style refers to unique home in the market area. Also fitting into this style are earth sheltered housing, dome houses, houses with lower than normal ceiling heights.
The Challenge with Getting a Home Loan on Log Cabins
When the property is appraised, the appraiser must show that there are comparable properties that have sold in the area. The appraiser must show that the log cabin appears structurally sound and readily marketable. Readily marketable meaning if the home was foreclosed, it could be sold at the appraised value. The challenge arises when there are very few log cabins in an area. The value of the property is then difficult to show.
The Good and the Bad with Log Cabins
The good news is if you are in an area with many log cabins it could be easier to get a mortgage. The bad news if the cabin you want to buy is the only one in the county, you might have to try for seller financing.
Questions about Log Cabins
We would love to answer any you have questions about a certain cabin in your area in Utah. We have tools and resources at our disposal to find out what type of financing it may qualify for. Have a wonderful day
Call us at 801-627-8888 or Set a No-Obligation Appointment
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A Home Loan specialist with over 25 years experience. She can help you find the best loan program that meets your needs.