Manufactured home financing

[Ralph Pombo]

I apologize in advance for my lack of knowledge on this subject. This is the first manufactured home on property that I have attempted to find secondary financing for. Here is the current situation. We own a large manufactured home on 2.6 acres of property. It is a rental in Oregon. The home is on a permanent foundation, does not have axles/wheels, and is stick built with 2x6 walls all built to local code. We had no issue getting the original loan and was never informed that this was any different than any other real estate purchase. Today, the property has about $200k - $300k of equity. I would love to pull out some of that equity to reinvest elsewhere. I cannot find any form of financing available ANYWHERE. No financial institution will even discuss it with me. It is not a modular home, but listed as a manufactured home, even though it is a triple wide with an extension making it a 5 bedroom, 3 bath. Is there any method to pull money out of this investment? I am at wits end.

[Stephanie P.]

Originally posted by @Derrick E.:

@Ralph Pombo why not just do a cash out refinance with this as your primary residence? That might be the only way to do it? Best of luck!

...because he doesn't live there.