A three-season, or seasonal, cabin is defined as one that cannot be used year-round. Three-season cabins can be difficult to finance—if you’re not working with Northview Bank.
In order to get a government-backed loan for a vacation home, it must have water, sewer, a full bath and full kitchen, one bedroom with a closet, and a full central heating system. But what if you have your eye on a great little cabin that does not meet those requirements?
That’s where you’ll truly appreciate the flexibility and full-service approach Northview Bank takes with lending. We always work with borrowers to find the most attractive program available for the borrower based on the property type.
Here’s a common example: We have an applicant who applies for a conventional loan that would be sold to a government-backed agency and serviced by Northview. When the appraisal comes back, the property is missing one factor to make it a qualifying secondary property.
If you’re banking somewhere else, the process ends there, and you have to switch from a mortgage broker to a local bank—but at Northview we can easily switch it over to an in-house program. Northview Bank’s range of lending options creates alternatives to keep your loan and dream moving forward with no extra effort.
Often when people buy a three-season cabin they plan to convert it to a year-round property. This may be as easy as adding a central heating system, insulation, or a closet. That would make it a year-round cabin and qualify it for a conventional mortgage, which would be to your advantage. But how can you do that before you lock in your loan?
Northview Bank offers programs that pair a purchase and construction loan with a conventional loan that would be closed upon completion of the small construction project. We qualify the borrower for both loans up front and work with them during the construction project so they will be able to close quickly upon completion on a long-term, fixed rate conventional mortgage.
Many borrowers wonder if a cabin will qualify for conventional financing. Northview Bank is willing to work with borrowers directly to give them an idea of programs, rates, and terms available to them for specific types of properties.
If you’re ready to get started on this great adventure, click here to prequalify for a seasonal cabin through Northview Bank
Specialty: Home Purchases, Home Refinances, Construction Loans, Seasonal Cabin Financing, Land Financing, Lake Lot Financing
Specialty: Home Purchases, Home Refinances, Construction Loans, Seasonal Cabin Financing, Land Financing, Lake Lot Financing
Specialty: Home Purchases, Home Refinances, Construction Loans, Seasonal Cabin Financing, Land Financing, Lake Lot Financing, USDA Rural Development, VA, FHA, HELOC, Consumer Lending
Specialty: Home Purchases, Home Refinances, Seasonal Cabin Financing, Land Financing, Lake Lot Financing, HELOC, Consumer Lending
Specialty: Home Purchases, Home Refinances, Construction Loans, Seasonal Cabin Financing, Land Financing, Lake Lot Financing, HELOC, Manufactured Homes & Consumer Lending
Specialty: Consumer Loans (Auto Loans, Boat Loans, ATV Loans, Credit Cards), HELOC, Land Loans
Specialty: Land Loans, Lake Lot financing, Home Equity Loans, Seasonal Cabin financing, Personal Lending
Specialty: Conventional and Seasonal Home Financing, First Time Home Buyers, USDA Rural Development, FHA, Construction Financing
Specialty: Home Purchases, Home Refinances, Conventional, FHA, VA, USDA, Construction Loans, Seasonal Cabin Financing, Land Financing, Lake Lot Financing, Consumer Financing
Specialty: Mortgage Loans: Real Estate, Vacation Property, Land -|- Loans: Personal, Auto, Boat, RV, Fish House, ATV, Off-Road Vehicles, Construction Loans, Home Equity Loans, HELOCs
Specialty: Consumer Lending, Land Loans, Home Equity Loans
