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Financing for a Berm Home

We are a married couple in our 50's trying to find financing (need about $76,000) for a berm home. Our bank says our credit and earnings are absolutely not a problem; they just won't finance a berm home. It is located in a rural town in Wisconsin so finding comps may not even be possible, unless it is just for other unconventional homes that aren't necessarily berm homes. This house was completely redone in 2008 and has a new roof. It has passed every inspection imaginable and is in perfect, well kept condition. We just need a lender! Can anyone suggest one?
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June 24 2013 - Eau Claire
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Answers (3)

Ask the local banks around there..

If a purchase a large percentage down payment will be necessary. Ask the current owner where they have their loan if they have or had one.  You could also ask seller if they are interested in a land contract.  For the record pluses and minuses to a land contract.  Have the Realtors ask around if it cannot be financed they will have a tough time selling the house.  

If refinance it will probably need to be worth $100,000 or more to get a place to consider it.
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June 25 2013
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I assume this is for a purchase?
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June 24 2013
Have you determined whether your loan qualifies under the HARP program? (guaranteed by Fannie or Freddie prior to 6/1/2009). If it is HARP qualified, then there's a chance that no appraisal is required and therefore the fact that it's a berm home doesn't matter.
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June 24 2013
 
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