Financing
You don’t have to pay for it all at once.
Plenty of people finance a building the same way they’d finance a truck or a roof. We work with two lending partners, and checking your rate with either one takes a few minutes and won’t affect your credit score.
Two places to check
Both are independent lenders. We don’t originate, service, or hold the loan, and we don’t make the approval decision. What we can tell you is that these are the two our customers have had the best experience with.
HFS Financial
Unsecured home improvement lending. No lien on your property, no equity required, and no appraisal. Terms run long enough to keep the monthly payment manageable on a larger building.
Good fit for a shop, a detached garage, or an outbuilding on property you already own and live on.
Enhancify
Matches you against several lenders at once from a single application, so you see more than one offer without filling out more than one form.
Worth starting here if you’re not sure where your credit stands or you’d rather compare options side by side.
Barndominiums work differently
Intended use dictates the type of loan. A building that’ll be your primary residence isn’t a home improvement project, so home improvement lending doesn’t cover it — and that’s especially true on open land where there’s no existing home to improve.
Those builds route through traditional home lenders. A bank or mortgage lender, usually as a construction loan that converts to a mortgage. Start there rather than with the options above, and start before you order, because the lender will want to see the plans and the full project budget.
Call us before you apply anywhere and we’ll tell you what we’ve seen work.
Know the whole number before you borrow
This is the part worth getting right. The building is one line item. Concrete is usually the second largest, and on a project you’ll finish and occupy there’s a good deal more after that.
Borrowing for the building and then discovering the slab wasn’t in the number is a bad position to be in. Work out the full project cost first, then borrow against that.
Run your numbers through the cost calculator before you apply. It’ll price the building and the concrete together.
A few things worth saying plainly
We’re not the lender. Approval, rate, term, and everything else are between you and them. We don’t see your credit and we don’t influence the decision.
Checking your rate is a soft pull. It won’t affect your credit score. Formally accepting an offer usually involves a hard inquiry, and the lender will tell you when that happens.
You don’t have to finance through either of these. A local bank or credit union may beat both, especially if you have a relationship there. Plenty of our customers pay cash or use a construction loan. We’d rather you got the best terms than the most convenient ones.
Financing doesn’t change your price. The building costs what it costs whether you pay cash or borrow.
Need the number first?
Tell us what you’re building and we’ll price the whole project, so you know what you’re actually borrowing against.