Home Buying in Godfrey>Question Details

Countryguy, Home Buyer in Godfrey, IL

Is it true that banks will not loan money for a pole barn home (steel)?

Asked by Countryguy, Godfrey, IL Mon Dec 21, 2009

I am debating the purchase of a pole barn home....I will be paying cash, but I want to make sure that I won't regret this purchase. It has all I would want in a home, but I no nothing about pole barn homes and I might want to sell down the road when I finally build a home. Is a pole barn a bad choice?

Help the community by answering this question:


A pole barn was always the cheapest possible way to put up a barn. You drive posts into the ground and there is no foundation. After many years the poles rot at the bottom. It can be difficult to replace a pole but can be done. If the pole had concrete poured around it it is a lot harder than if it is just dirt.

The pole barns I speak off were always wooden posts. Usually cedar. But nothing that is wood or steel that goes into the ground will last forever. Sooner or later I would expect corrosion to eat through the metal.

Are you perhaps talking about something a bit different? A metal building that was built on concrete forms with the steel bolted on top? That kind of setup seems very solid. I have seen the bottom of steel buildings show rot after 20-40 years. Maybe it has to do more with water coming from the roof and splash. I once saw a wooden house built on a slab (about 20-30 years old) with the same problems. Maybe proper site work would prevent it. Maybe not. I would expect that it would be possible to remove the outside skin when it happens just like you would replace vinyl siding. It seems if a building is built at least a foot . maybe 18-24" above the ground level splash is not so much of a problem as it is when it is within 2 or 3 inches.

Congratulations on being smart enough to save your money and be able to buy for cash. The best answer for you about financing is easy for you to discover. Talk to 2 or 3 local banks. Talk to their mortgage person and ask them if they would finance this kind of house. Take pictures with you. If they do not agree to finance it realize you may never be able to sell if you ever wanted to.

Even if you were 20 years old now and wanted to live there forever think about when you turn 65 and want to move to florida or arizona for health reasons. Plans sometimes change. Be sure you buy something that will allow your plans to change if they need to.

If you were thinking about building from scratch look at a quad lock it is insulated foam panels you pour concrete between. Very energy efficient. Slightly expensive to build (they say 5% more) but will save you a lot of money in the long term. It is said to cost about the same per month when financed including heat and taxes as standard wood houses. You could put any siding on you want. Being concrete and foam the house shell will never rot. It is also said to be very quiet compared to normal construction. The houses look like normal houses except for having slightly thicker walls.

If I was to build new I would definately consider that system. There are other competing manufacturers of foam and concrete houses. Consider them all.
1 vote Thank Flag Link Tue Dec 22, 2009
Congrats! Somehow you were able to write all that without answering his question.
Flag Mon Apr 4, 2016
Costs to build pole barn houses are often substantially less than other construction methods. Even with added features such as wainscot, overhangs and decorative windows or doors, dollars spent on a pole barn home typically will be less. Why are the costs of pole barn homes less you ask? Because pole building houses require less material to construct as supporting poles are commonly placed 10? to 12? apart.

Web Reference: http://USAConstructionLoans.com
0 votes Thank Flag Link Fri Jun 10, 2016
I think it depends on the bank, as well as the materials, the quality of the metal finishing, etc.
Web Reference: http://www.vaughnmetal.ca/
0 votes Thank Flag Link Mon Dec 9, 2013
I think a pole barn home is not a bad choice at all. It may be of your interest to have a metal finishing company come and inspect to make sure it is safe. You can be sure a safe home is a safe purchase.
Flag Mon Oct 20, 2014
Hi, Countryguy: Any time you have an unusual home (and "unusual" will be defined differently in different parts of the country) you will have a smaller pool of potential buyers for it. So, thinking about re-sale down the road is smart on your part. That future buyer may very well find it difficult to get a loan to purchase a steel pole building as that often is a problem for buyers who want to purchase modular or manufactured housing. Do you have an existing pole home in mind that you want to buy or are you planning to purchase one in a kit from a manufacturer? If you're purchasing it in a kit to be erected on land you own, often the manufacturers will have loan programs, which would eliminate the need for a bank loan. But you mentioned you're paying cash anyway, so I am guessing your main concern is future re-sale. Hope this helps a little. If you need to know more about available land/homes in Madison County or need other questions answered, please feel free to contact me. --Nancy
0 votes Thank Flag Link Tue Dec 22, 2009
Nancy, I have a land contract on a pole home and am looking to buy but am having a difficult time finding a lender. It is on a concrete slab and is bolted to the concrete. I live in Greencastle, IN. Do you know of a lender who will finance me? kellibrat@live.com
Flag Fri Feb 27, 2015
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