Expert: Lemelia Bonner - 9/12/2004

Question
Hello,  I have a dome house that I'm selling to interested tenants (current mortgage is not assumable).  My tenants don't have a great credit score, so they got approved for conventional home but not for a dome. There isn't enough history of dome sales in the area to make the banks comfortable.

Can you recommend a lender(s) that specializes in alternative housing?  Anything else you might suggest short of dropping these folks as potential buyers?

Thank you,
Dulce

Answer
Hello, Dulce

The company that I'm most familiar with for alternative home lending (both purchase & construction loans) is Waterfield Financial Services. Below is their contact information:

E-mail: consdiv@waterfield.com
Phone: (800) 305-1337

I understand that CTX Mortgage may also be a source. They are trying to expand their services to do more lending on nontraditional homes.

Lemelia