twice moved manufacture home financing options
I have been listening to Brandon Turner's books on my drive to and from work and rental properties interest me. I came across what I think seems like a good deal on a 3 bdrm 2 bath manufactured home on a .22 acre plot. My question is from what the interwebs has told me thus far is twice moved manufacture homes are difficult to find financing for. I do have the option of a VA loan, however I don't want this to be my primary residence. The specific location is Longview, Wa.
Quote from @Jeremy Bernard:
I have been listening to Brandon Turner's books on my drive to and from work and rental properties interest me. I came across what I think seems like a good deal on a 3 bdrm 2 bath manufactured home on a .22 acre plot. My question is from what the interwebs has told me thus far is twice moved manufacture homes are difficult to find financing for. I do have the option of a VA loan, however I don't want this to be my primary residence. The specific location is Longview, Wa.
Are you saying it will be used as a rental?
I don’t know of any companies who loan on rental mobile homes. So I am interested to know that
as for twice moved homes which are primary residence and possibly vacation home mortgage companies.
- Cascade,
- 21st
- Center state
- Vanderbilt
- VLM
Quote from @Michael Plante:
Quote from @Jeremy Bernard:
I have been listening to Brandon Turner's books on my drive to and from work and rental properties interest me. I came across what I think seems like a good deal on a 3 bdrm 2 bath manufactured home on a .22 acre plot. My question is from what the interwebs has told me thus far is twice moved manufacture homes are difficult to find financing for. I do have the option of a VA loan, however I don't want this to be my primary residence. The specific location is Longview, Wa.
Are you saying it will be used as a rental?
I don’t know of any companies who loan on rental mobile homes. So I am interested to know that
as for twice moved homes which are primary residence and possibly vacation home mortgage companies.
- Cascade,
- 21st
- Center state
- Vanderbilt
- VLM
Well, What I would like to do is use it as a rental property. I think it has better potential as a rental unit than my current residence. I do appreciate the input and tomorrow I think I will make some phone calls to lenders.
Quote from @Jeremy Bernard:
Quote from @Michael Plante:
Quote from @Jeremy Bernard:
I have been listening to Brandon Turner's books on my drive to and from work and rental properties interest me. I came across what I think seems like a good deal on a 3 bdrm 2 bath manufactured home on a .22 acre plot. My question is from what the interwebs has told me thus far is twice moved manufacture homes are difficult to find financing for. I do have the option of a VA loan, however I don't want this to be my primary residence. The specific location is Longview, Wa.
Are you saying it will be used as a rental?
I don’t know of any companies who loan on rental mobile homes. So I am interested to know that
as for twice moved homes which are primary residence and possibly vacation home mortgage companies.
- Cascade,
- 21st
- Center state
- Vanderbilt
- VLM
Well, What I would like to do is use it as a rental property. I think it has better potential as a rental unit than my current residence. I do appreciate the input and tomorrow I think I will make some phone calls to lenders.
PLEASE if you find A lender who will do a loan on a twice moved rental mobile home post her name here
or please send me a direct message
I have always had to pay cash for mine and have a lot of equity I would love to get mortgages on thank you
I would like information on this issues as well, was told the mobile homes couldn't have been moved since purchased and put in place, must be a double wide. I'm sure no bank would loan on a used mobile home not used as the owner's residence, though after you get a loan you could probably rent it if you lived in it for a while first.
I called a local credit union(Fibre Federal CU) the representative that I talked to said that as long as the home was manufactured before 1976 and passed all inspections they would loan up to 95% of the LTV at somewhere between 6 and 7.5% up to 20 years.
Quote from @Jeremy Bernard:
I called a local credit union(Fibre Federal CU) the representative that I talked to said that as long as the home was manufactured before 1976 and passed all inspections they would loan up to 95% of the LTV at somewhere between 6 and 7.5% up to 20 years.
If you did NOT live there?
Quote from @Michael Plante:I explained my tentative plan, she said it was doable. Unfortunately I couldnt make the numbers work.
Quote from @Jeremy Bernard:
I called a local credit union(Fibre Federal CU) the representative that I talked to said that as long as the home was manufactured before 1976 and passed all inspections they would loan up to 95% of the LTV at somewhere between 6 and 7.5% up to 20 years.
If you did NOT live there?