I talked to a lender and he said that I can use the 203k loan to obtain land and put a manufactured home on there (and put permanent foundation on there). I've never heard of this before, I thought 203k loans were only for renovations of existing homes. Can 203k loans actually be used to build new manufactured homes and buy land to put them on, or is my lender confusing something?
I'm a lender and I've never heard of that. I'd do more research on that before taking the plunge and manufactured homes are tough to get good loans on.