Mobile home financing
Looking to buy a mobile home with 2 acres of land in central MS..anyone in the Bigger Pockets world that can lead me down the best path to get the financing.
#2 Mobile Home Park Investing Contributor
- San Antonio, TX
@Dawn Platt You may want to talk to a few mobile home dealerships in your area. They may have a few referrals for you on lenders who can help. In the past, I've found them to be a good source of information and referrals. Hope that helps!
Try these lenders
- Cascade,
- 21st
- Center state
- Vanderbilt
Thanks, I saw those online and was wondering if online financing works without a major headache. Haven't heard much good
Originally posted by @Dawn Platt:Thanks, I saw those online and was wondering if online financing works without a major headache. Haven't heard much good
I’ve never gotten a mortgage except online
I am a mortgage broker in Texas. I have a lender that does Manufactured Homes in nearly every state. There are strict guidelines and very specific guidelines, but all are reasonable to most situations. They also offer conventional financing where you could qualify for as little as 3-5% down. I am not licensed in MS, but will see if anyone in my network is and has access to this same lender.
A few quick questions:
- Are you looking at a double wide, triple wide, single wide, etc...?
- Is it new from a dealer and being moved to a site? or an established dwelling on an existing foundation?
Let me know.
Nick Belsky
Does your manufactured home lender do loans for investors? I have a property in NC that I'd like to refinance and pay off my private money lender. I've had a hard time locating anyone who will refi. The property appraised for 192K last year and I have a 95K note on it with the private money lender.