I would like to purchase a single family home that also has a trailer on the property with tenants. My bank said they don’t finance trailers/mobile homes and another said the trailer on the property will not be able to be added to the appraisal.
Are there any other ways I could try to get a mortgage? I was thinking a private lender? How do those work? Wouldn’t want to do hard money.
I would like to purchase a single family home that also has a trailer on the property with tenants. My bank said they don’t finance trailers/mobile homes and another said the trailer on the property will not be able to be added to the appraisal.
Are there any other ways I could try to get a mortgage? I was thinking a private lender? How do those work? Wouldn’t want to do hard money.
Thanks
Hello Bob -
Private lenders and hard money lenders tend to be much more aligned to investors and unique properties like this.
Search the BP network for lenders (there are several) and then just start reaching out to them with your project. My experience is that they tend to be very willing to help small investors get started and work through unique projects, because you are likely to use their services again.