Looking for long-term financing options for manufactured home rental

South Bend, Indiana
Private Lending & Conventional Mortgage Advice
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Looking for long-term financing options for manufactured home rental

Aaron VanVynckt
Investor · NC · Member since 2025 · 3 posts · 2 votes

Hello,

I recently completed a fix-to-rent on a manufactured home. It's permanently attached to a concrete crawl space foundation in a desirable location and school district (Penn Schools; Mishawaka, IN). I was exiting via a DSCR when the lender informed me days before closing that they do not lend on man homes (they knew it was manufactured from beginning). Their 3rd party appraisal came in at $208K and it's currently rented at $1,550/mo on a 1-year lease. I'm currently in a 1-year bridge loan for the fix-to-rent.

I'm looking for long-term financing options but am mostly only finding options for financing it as a primary home in personal capacity. It's currently deeded in my LLC, and I'd like to keep it that way if possible. Any and all suggestions welcome.

Thanks, Aaron
 

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Russell SmithBusiness Member
Lender · Whiteville NC · Member since 2025 · 7 posts · 2 votes
9mo

I do have a source for purchase or refinance on a doublewide investment property. I have an email into underwriting to check if we can use the as completed appraised value. On investment doublewides, we can lend up to 80% of the value and the max term is limited to 20 years but as you can tell it is very unique to get financing on that scenario. 

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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    9mo

    I don't have an answer, but I'm going to follow the replies.

    0Reply
  • Russell SmithBusiness Member
    Lender · Whiteville NC · Member since 2025 · 7 posts · 2 votes
    9mo

    I do have a source for purchase or refinance on a doublewide investment property. I have an email into underwriting to check if we can use the as completed appraised value. On investment doublewides, we can lend up to 80% of the value and the max term is limited to 20 years but as you can tell it is very unique to get financing on that scenario. 

    1Reply
  • Jennie Ballard
    Member since 2025 · 40 posts · 13 votes
    9mo

    21st Mortgage lends on mobile homes only. We have had a decent experience with them. Their website says they lend on investment properties and used move-in ready homes. 

    1Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    9mo
    Quote from @Aaron VanVynckt:

    Hello,

    I recently completed a fix-to-rent on a manufactured home. It's permanently attached to a concrete crawl space foundation in a desirable location and school district (Penn Schools; Mishawaka, IN). I was exiting via a DSCR when the lender informed me days before closing that they do not lend on man homes (they knew it was manufactured from beginning). Their 3rd party appraisal came in at $208K and it's currently rented at $1,550/mo on a 1-year lease. I'm currently in a 1-year bridge loan for the fix-to-rent.

    I'm looking for long-term financing options but am mostly only finding options for financing it as a primary home in personal capacity. It's currently deeded in my LLC, and I'd like to keep it that way if possible. Any and all suggestions welcome.

    Thanks, Aaron
     


     We have closed them. It is unfortunate that your lender did not do the proper due diligence upfront. 

    If you plan to keep it as an investment, there are several DSCR based options. If the property is a doublewide and the appraisal is completed by an AMC, you might be able to transfer it.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Jake YuskaitisBusiness Member
    Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
    9mo

    i can do 30 year fixed terms as long as it's not rural and on perm foundation

    80% LTV for the purchase and 75% for a C/O

    [email protected]551-287-6884
    Frontier Funding LLC533 Reviews
    WebsiteView Page
    0Reply
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