- Went through the exact same thing. Local lender loved our quirky property but rates were steep.
- Ended up checking with a credit union nearby—still smaller scale but decent rates and understood rural quirks.
- Might wanna give that route a shot if you haven't yet.
Credit unions are underrated gems, honestly. We had a similar headache—big banks just didn't get our funky little farmhouse. Credit union folks came through, plus their coffee was way better... priorities, right?
"Credit unions are underrated gems, honestly. We had a similar headache—big banks just didn't get our funky little farmhouse."
Funny you mention that, because we had almost the opposite experience. When we bought our old Victorian fixer-upper, the credit union folks were friendly enough, but they seemed a bit hesitant about the renovation plans we had in mind. Maybe it was just our particular branch, but they seemed more comfortable with straightforward loans rather than something a bit quirky or ambitious. Ended up going with a smaller local bank instead, and they were surprisingly flexible—though I can't vouch for their coffee, sadly.
Makes me wonder if it's more about the specific people you deal with rather than the institution itself. Has anyone else noticed that certain lenders just seem more comfortable with unconventional properties, or is it really just luck of the draw?
Weirdly enough, we had a similar experience with a local bank. When refinancing our old log cabin, the credit union folks were nice but seemed unsure about the whole "rustic charm" thing. The loan officer kept asking about insulation and heating efficiency like we'd never thought of it before... Ended up at a community bank where the guy handling our loan actually owned a cabin himself—made all the difference. Guess it really does depend on who you talk to.
Had to chuckle at that one... I've seen this more times than I can count. It really does come down to who you're talking to and their personal experience with rural properties. Did your credit union guy bring up the dreaded "seasonal access" question? That's usually the next thing they ask after insulation and heating efficiency—like no one's ever considered snow before!
Honestly, when it comes to rustic or rural properties, it's always a good idea to feel out if your lender or loan officer has personal experience or at least a solid understanding of what they're dealing with. If they've only ever financed suburban homes, the conversation can get awkward pretty quickly. I've had clients who were asked if their woodstove was "decorative" or functional... as if anyone in a rural cabin has time for purely decorative heating appliances.
Glad you found someone who "got it" though. Makes everything smoother when you don't have to spend half the appointment explaining why yes, you really do need that backup generator, or why a well and septic system isn't some exotic luxury.
Curious—did the community bank you ended up with offer any specific rural loan perks, or was it mostly just having someone who understood the property type better? Sometimes local lenders have niche programs that bigger banks overlook, and it can be worth asking about those. Either way, sounds like you landed in a good spot.
