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Answers (10)
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
Holy Cow Theresa, did you just pull that answer out of your a**?
HUD has an entire block of guidelines on securing an FHA insured loan on a manufactured home.
HUD has an entire block of guidelines on securing an FHA insured loan on a manufactured home.
- Dan, "the_country_hick"
- Contributions:4700
Several years ago when interest rates were higher due to the difference in interest rates between buying a trailer and a slightly more expensive house the monthly cost was often not much different. Be sure to look at the total price and monthly payments to see if buying a trailer really saves you on your monthly payment.
Teresa get's the golden incorrect answer riddled with spam award for longest hotlink to a website on an answer that could not be any stupider.
FHA certainly lends on manufactured homes and if you want people to go to your website, you might start with knowing what you are talking about!
FHA certainly lends on manufactured homes and if you want people to go to your website, you might start with knowing what you are talking about!
- Robin Gentry MLO113119 CL 36130, "Robin Gentry"
- Contributions:46
There are several lenders out there that do the manufactured loans as Eric menttioned there are restrictions as to the age, sq ft and something I have come accross often that can be a problem, is the value ratio of the home vs the land it is on. Becuase the the risk involved in FHA Manufactured there are stricter guidelines for credit and ratios too. I can possibly help you find a lender if you need one:)
- Teresa ODette, "teresaodette"
- Contributions:3
[content removed by Zillow due to self promotion. Please refer to our Good Neighbor Policy for details]
- Eric Vander Werff, "Eric Vander Werff"
- Contributions:5
These are actually being done quite often, as long as the home meets the requirements of being at least a double wide, 400+ Sq feet, the home is permanently affixed to a concrete foundation, must be classified as real estate, and must be built after June 15, 1976. There are some other requirements in the underwriting process if there is a Well, there is an engineers certification required that costs $300-500, but most of the other documentation like income, credit, and assets are otherwise consistent with standard FHA guidelines. Hope that helps!
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
- steven stewart, "Steve Stewart Sr"
- Contributions:27
Im not a fan of wells fargo and they will kill a deal before close it but they do Real property mobile homes.
By far the best lender for a FHA mortgage on a MH.
Land Home Financial
Please don't remove the link Z.
Land Home Financial
Please don't remove the link Z.
- Cindy Quinton, "Cindy Quinton"
- Contributions:1334
Have you spoken to any of the retail outlets for mobile homes to see who all they use?
This is my two cents on mobiles:
I owned a mobile at one time and can tell you I would NEVER buy a new or even newish one again. I was VERY fortunate that the land I bought appreciated sharply in the years after I bought the home and the land. And I didn't ever need to sell the mobile, because mother nature blew it away and the insurance company paid me what it would have cost to replace it. To be honest, if that hadn't happened, we would have taken a loss in order to move. The only way I would buy one is in combination with land where the land was worth almost the same with it as without it. The fact that few are willing to lend on them is testament to how they feel about it as colatteral. Sorry for the unsolicited advice, but I wish someone would have given it to us before we made the mistake.
This is my two cents on mobiles:
I owned a mobile at one time and can tell you I would NEVER buy a new or even newish one again. I was VERY fortunate that the land I bought appreciated sharply in the years after I bought the home and the land. And I didn't ever need to sell the mobile, because mother nature blew it away and the insurance company paid me what it would have cost to replace it. To be honest, if that hadn't happened, we would have taken a loss in order to move. The only way I would buy one is in combination with land where the land was worth almost the same with it as without it. The fact that few are willing to lend on them is testament to how they feel about it as colatteral. Sorry for the unsolicited advice, but I wish someone would have given it to us before we made the mistake.
mortgage lenders who is willing to lend on a manufactured home? Where are they?
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