Boxpert Blog

Financing your Shipping Container Home

Posted by Stephen Shang on Sat, Jan 29, 2011 @ 12:04 PM

Shipping Container Home InteriorShipping containers come in standard sizes that are easily transportable, and can be used as an alternative to an RV, a motor coach, a Park Model trailer, a mobile home, a manufactured home, a section home, a pre-built or pre-engineered modular home component, and a kit construction home. 

Most lenders focus on the “transportable” feature of a shipping container home, and therefore treat it as personal property like a boat or car.  Some banks offer manufactured housing loans, which may be an option to explore.   They will usually require 20% down, with a 10-15 year term on the loan.  The interest rate will likely be higher than a home mortgage rate as well.

Some tips I found in’s article on financing manufactured housing:

  • Shop around for financing. Loans for manufactured housing vary widely in their terms.
  • If you also own the land, make certain you can obtain the tax benefits of having the property titled as real property. Yes, it will go on the tax rolls, but the real estate taxes you pay become tax-deductible.
  • If you must title the home as personal property, find out if your state will require you to pay annual motor vehicle fees.  If your shipping container home is on a trailer chassis, this may apply to your situation, so check it out.

My best advice is to start with your own bank, where you (hopefully) have a long term relationship.  If you’re buying land at the same time, you may be able to work with your banker to include the shipping container home amount as an “improvement” to the land.

We’d be happy to answer any questions you have while deciding to purchase a shipping container structure. To speak with one of our friendly Falcon representatives, give us a call at 877-704-0177 today.

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Tags: Container Purchase