Was talking to my friend yesterday and he mentioned something about getting a house loan that didn't exactly fit the usual guidelines. Like, let's say your credit is decent but maybe your income situation is kinda unique or the property itself is a bit unusual—um, like maybe it's a cabin or something. How would the banks even handle that? Curious if anyone here has dealt with this sorta thing before and how it went.
Had a similar experience a couple years back when I was looking at developing a small lakeside cabin property. The banks were pretty hesitant at first because it wasn't your typical suburban home—more like a rustic getaway spot—and my income was mostly project-based, so it didn't fit neatly into their usual boxes.
Ended up having to go through a smaller local bank instead of the big national ones. They were way more flexible and actually took the time to understand the property and my financial situation. They did ask for extra documentation—like detailed project histories and future income projections—but once they got comfortable with the specifics, things moved along pretty smoothly.
So yeah, banks can handle these unconventional loans, but you might have to shop around a bit and be prepared for some extra legwork. Big banks tend to stick to strict guidelines, while smaller regional lenders or credit unions can sometimes offer more tailored solutions.
"Ended up having to go through a smaller local bank instead of the big national ones."
This matches what I've seen with clients too. Had one who renovated an old lighthouse (seriously, coolest project ever) and the big banks wouldn't touch it. Local credit union stepped up. Curious—did your smaller bank offer competitive rates or was flexibility their main selling point?
"Curious—did your smaller bank offer competitive rates or was flexibility their main selling point?"
Flexibility was definitely the big draw for us. When we bought our older farmhouse, the big banks got nervous about the property's age and some quirky zoning stuff. The local bank was more willing to look at the whole picture and work with us. Rates weren't amazing, but they weren't terrible either—honestly, the peace of mind knowing someone was actually listening and willing to help was worth a slightly higher rate.
We refinanced a few years back and ran into something similar. Our property had a detached workshop that the big banks didn't really know how to categorize. They kept asking weird questions about zoning and usage, and honestly, it felt like they were just looking for reasons to say no. Ended up going with a smaller credit union—rates weren't stellar, but they actually took the time to understand our situation instead of just ticking boxes. Worth it in the end, imo.
