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Cob: Fannie mae reluctaance

Keith Breuker flyfisherkb at centuryinter.net
Mon Feb 21 14:36:35 CST 2000


Hello Friends,

We recently passed our final inspection and got an occupancy permit for
our earthen plastered SB house.  We had no trouble getting a
construction loan from the local bank.  We discussed with the banker
getting a fannie mae mortgage when the house was complete.  I told him
about several fannie mae financed SB homes that I had heard about from
the list and he is willing.  

I just heard from my banker that fannie mae is reluctant to finance our
SB home because it is in Northern Michigan.  

I am looking for information that I can use to convince the people at
fannie mae that this would not be a speculative venture.

Thanks in advance for any assistance.

Keith Breuker