Loan for a property that is a "purged" mobile home
I have an opportunity to purchase a property that is a mobile home that has had the title removed (it has a permanent foundation) and for tax purposes is part of the real estate. I was previously told (I don't remember where) that, from a lender's perspective, once a mobile home always a mobile home. So all you lending geeks out there, what is the correct answer?
I would purchase with cash but would want to resell so want to know what the limits would be for the new buyers.
Thank you.
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Real Estate Agent Colorado (#IR044146)
- Reliant Real Estate, Inc.