Other types of loans?
I have a single wide mobile home sitting on its own land, tied down/on a slab under contract. Could not go conventional because it's a single wide. FHA eventually realized the house was on a well with nine other homes and this broker says it's not doable FHA.
I called another broker and he said if the well is on an LLC there is a workaround for FHA. I went back to my real estate agent and asked her to double check if the well is on an LLC and all she said was "we cannot do an FHA loan." 🧐
Is it worth calling around to other brokers and/or mobile home lenders to see if someone has any kind of work around? Or is this deal over? I figured private lenders would want a shorter term loan than 30 months. I don’t really want that, I what day low monthly payment. Still waiting to hear if they will do owner financing. Thanks in advance for any tips or advice.
PS I was planning on living on the property with a roommate. Eventually renting if necessary. It would positively cash flow.