Financing For Property With MH On It
Traditional banks and credit unions have stated that law prohibits them from providing a mortgage against a property with a MH greater than 30-40 years old. Unfortunately we just renovated a 50 year old MH on the lot. We want to build an ADU and cannot consider another MH due to unique lot and site features, it will need to be stick built. A quote we received was in the ball park of 350K. How do we find financing for our ADU project? Are we seriously only looking at a hard money venture? There has got to be an alternative. Thank you!