Is it possible to get a mortgage on a home built of concrete?

Yes, it could be possible. When it comes to acquiring a mortgage on a concrete house  or other non-standard property, each lender will take a different approach to whether or not they will lend to you. It's unlikely that you'll be authorized if their eligibility requirements consider the property to be unreliable security for the desired loan amount.

Mortgage lenders' main worries with non-standard buildings tend to revolve around the property's structural stability over time, as well as the likelihood of future troubles if you are forced to sell. Lenders will always take into account how difficult it will be to resell your home if it is repossessed. The property's mortgage ability will only be certified after a formal valuation.

If you are accepted, there may be conditions imposed as a result of the perceived risk of the project, such as a greater deposit and/or higher interest rates.

Although these considerations may make obtaining a mortgage on a concrete construction property more difficult, some specialized lenders deal with non-standard construction mortgage applications daily, and the consultants we work with are aware of who they are.

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