DSCR Loan on a Manufactured Home

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DSCR Loan on a Manufactured Home

Account Closed
Member since 2022 · 18 posts · 10 votes

Hello! I've seen a lot of people ask questions regarding loans on manufactured homes, but I didn't quite find what I was looking for when searching. I have a double-wide manufactured home on about 5 acres in CO, and I own it outright. I just finished remodeling it, and I want to take out a loan against it. Comps put it around $500k. I know there are issues with financing manufactured homes, but I have a lot of equity. If I can't use it, I'd rather sell the property. Are there any ways to use the equity that don't have brutal rates? Thanks!

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Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
2y
Quote from @Account Closed:
Quote from @Dave Skow:

@Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


 Sorry for the confusion. It's an investment property.


You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.

[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
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  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    2y

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes

    0Reply
  • Account Closed
    OP
    Member since 2022 · 18 posts · 10 votes
    2y
    Quote from @Dave Skow:

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


     Sorry for the confusion. It's an investment property.

    0Reply
  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    2y

    @Account Closed- thanks - I am not aware of any lender that  will do a loan on an INV  manuf home property ...you might contact the local small to mid size credit unions and banks in your area ...you also might try the bank that you have  funds deposited at - good luck

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y
    Quote from @Account Closed:
    Quote from @Dave Skow:

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


     Sorry for the confusion. It's an investment property.


    You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    2Reply
  • Account Closed
    OP
    Member since 2022 · 18 posts · 10 votes
    2y

    I’ve decided that doing a 1031 into a more traditional property is the best move, here. Thanks for your advice, folks.

    1Reply
  • Dave Skow
    Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes
    2y

    @Account Closed- thanks for the update...good luck 

    0Reply
  • Samuel CoronadoPro Member
    Investor · Huntsville, AL · Member since 2016 · 348 posts · 182 votes
    1y
    Quote from @Erik Estrada:
    Quote from @Account Closed:
    Quote from @Dave Skow:

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


     Sorry for the confusion. It's an investment property.


    You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.


     Do you do these loans? I have one I need done

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y
    Quote from @Samuel Coronado:
    Quote from @Erik Estrada:
    Quote from @Account Closed:
    Quote from @Dave Skow:

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


     Sorry for the confusion. It's an investment property.


    You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.


     Do you do these loans? I have one I need done


     Yes

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Samuel CoronadoPro Member
    Investor · Huntsville, AL · Member since 2016 · 348 posts · 182 votes
    1y
    Quote from @Erik Estrada:
    Quote from @Samuel Coronado:
    Quote from @Erik Estrada:
    Quote from @Account Closed:
    Quote from @Dave Skow:

    @Account Closed- thanks ..based on the post I am not sure if the MH is your primary home or an investmenet property ?? if its an investmenet property - there are not many ( if any) lenders doing regular or DSCR loans on rental MH homes


     Sorry for the confusion. It's an investment property.


    You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.


     Do you do these loans? I have one I need done


     Yes


     Im shooting you a message about a deal I am currently working. I believe it fits your parameters. 

    0Reply
  • Jake YuskaitisBusiness Member
    Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
    1y

    little late on this one but we can do manufactured home for up to 80% LTV

    [email protected]551-287-6884
    Frontier Funding LLC533 Reviews
    WebsiteView Page
    2Reply
    • Samuel CoronadoPro Member
      Investor · Huntsville, AL · Member since 2016 · 348 posts · 182 votes
      1y
      Quote from @Jake Yuskaitis:

      little late on this one but we can do manufactured home for up to 80% LTV


      80% of value or 80% of purchase? Because of lot of lenders tell me LTV and actually mean LTP.

      1Reply
    • Jake YuskaitisBusiness Member
      Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
      1y
      Quote from @Samuel Coronado:
      Quote from @Jake Yuskaitis:

      little late on this one but we can do manufactured home for up to 80% LTV


      80% of value or 80% of purchase? Because of lot of lenders tell me LTV and actually mean LTP.


      It'll go off the lower of purchase price or appraised value. I have never seen a lender that will go off the appraised value if the purchase price is lower for a DSCR loan.

      [email protected]551-287-6884
      Frontier Funding LLC533 Reviews
      WebsiteView Page
      1Reply
    • Upen PatelPro Member
      Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
      1y

      @Jake Yuskaitis Its called Delayed Cash-out refi. As long as the property is bought in cash (with own funds). The cash-out loan LTV is based on the appraised value. And loan amount is based on the lower of the cash-out LTV or purchase price + purchase closing cost.

      [email protected]571-200-6180
      0Reply
    • Jake YuskaitisBusiness Member
      Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
      1y
      Quote from @Upen Patel:

      @Jake Yuskaitis Its called Delayed Cash-out refi. As long as the property is bought in cash (with own funds). The cash-out loan LTV is based on the appraised value. And loan amount is based on the lower of the cash-out LTV or purchase price + purchase closing cost.


       that's what I said. lower of the two

      [email protected]551-287-6884
      Frontier Funding LLC533 Reviews
      WebsiteView Page
      0Reply
    • Samuel CoronadoPro Member
      Investor · Huntsville, AL · Member since 2016 · 348 posts · 182 votes
      11mo
      Quote from @Jake Yuskaitis:

      little late on this one but we can do manufactured home for up to 80% LTV


       shot you a note

      0Reply
  • Vidhi Amin
    Member since 2024 · 2 posts · 0 votes
    1y

    Do you know any potential lender who is agree to give DSCR loan on Mobile Manufacture home?

    0Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    1y

    @Samuel Coronado @Vidhi Amin @Dayne Allen

    DSCR (long term and short term) is available for a Manufactured home.

    [email protected]571-200-6180
    0Reply
  • Vidhi Amin
    Member since 2024 · 2 posts · 0 votes
    1y

    @Upen Patel I know that we can but not able to find any lender who is ready to do it 

    0Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    1y

    @Vidhi Amin I can. Happy to connect and answer your questions. DM me.

    [email protected]571-200-6180
    1Reply
  • Timothy Hero
    Lender · United States · Member since 2020 · 1k+ posts · 499 votes
    1y

    For some odd reason, in the last 2 weeks, I've received like 15 quote request for manufactured homes. I usually receive that in a year. Sadly, none of my lenders offer them. I had one lender over a year ago offering them, but LTV was reduced by 10%.

    0Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    1y

    @Timothy Hero Happy to step in to cover your relationships. I can do DSCR on manufactured. ALL 50 states.

    [email protected]571-200-6180
    0Reply
  • Jesse Cone
    Lender · NY · Member since 2025 · 17 posts · 7 votes
    11mo

    I can help you!

    1Reply
  • Nick K.
    Real Estate Broker · Orange County CA · Member since 2022 · 5 posts · 1 vote
    7mo

    Erik Estrada does them and was impressed with their rates! 

    0Reply
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