Moving a mobile home

3 Replies

I am in the process of getting a killer deal on a used 1000 sq. ft., 3 bed 2 bath single wide built in 1990. I own a piece of property and am planning on setting it up there and flipping it. It’s tough for new buyers to get financing on mobiles and from what I am hearing it is not possible for a buyer to get financing at all if the mobile was moved from its original location. I’m having trouble finding solid facts on this, any one have any experience??

Hey @Adam Haywood , welcome to the BP community!

Getting financing on an individual mobile home is incredibly tough, whether they are new buyers or not. I am not sure moving the home has anything to do with this as I have not heard that before. Either way, your best bet will be to sell the home on some kind of rent credit or seller carry. This is how most successful MH flippers do it. 

Comb the forums here for posts regarding this or check out John Federo's site for more info.

Hope this helps a bit and feel free to reach out anytime if you have other questions or just want to chat!

Straight from Fannie Mae: 

The unit must not have been previously installed or occupied at any other site or location, except from the manufacturer or the dealer’s lot as a new unit.

FHA has the same restriction. I believe VA may be the only one that MAY allow financing on a home that has been moved from it's original location.

Your buyers will also have a much harder time getting financing on a single wide home.  If considering this as an investment, you may want to consider keeping it as a rental, or offering seller financing.