Stewart Brown Jr – Mortgage Loan Originator – Purchase or Refinance
| In the long term, living off-grid will save you money; however, getting everything you need to replace the standard utilities is likely to be expensive. To afford this, you may be considering getting a loan or even a mortgage.
Unless you have a substantial amount of money saved to finance the new build of an off-grid home or to convert your existing home, you’ll need to find the money to do so. Getting a loan is the obvious first choice in financing this step. It’s likely that you’ll need a mortgage but you may also need a smaller loan as well. Some of the things that may require a large initial payment include:
If you plan to get a loan for an off-grid home, you might run into trouble within just a few days. Banks generally see this type of investment as high-risk and low-reward. Some banks fear that if the owner of an off-grid home ends up defaulting, the property will have no chance of reselling because it’s not connected to the usual utilities. They’re also concerned that you might give up on off-grid living and stop paying your mortgage because of the drastic lifestyle change. While these are all roadblocks, it’s still possible to get a loan. It just takes careful planning and a lot of work on your part. |
| In the long term, living off-grid will save you money; however, getting everything you need to replace the standard utilities is likely to be expensive. To afford this, you may be considering getting a loan or even a mortgage.
Unless you have a substantial amount of money saved to finance the new build of an off-grid home or to convert your existing home, you’ll need to find the money to do so. Getting a loan is the obvious first choice in financing this step. It’s likely that you’ll need a mortgage but you may also need a smaller loan as well. Some of the things that may require a large initial payment include:
If you plan to get a loan for an off-grid home, you might run into trouble within just a few days. Banks generally see this type of investment as high-risk and low-reward. Some banks fear that if the owner of an off-grid home ends up defaulting, the property will have no chance of reselling because it’s not connected to the usual utilities. They’re also concerned that you might give up on off-grid living and stop paying your mortgage because of the drastic lifestyle change. While these are all roadblocks, it’s still possible to get a loan. It just takes careful planning and a lot of work on your part. |
Reach out to me for further detailed information on Off-Grid loan programs.