DSCR on Rural Manufactured Home ReFi

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DSCR on Rural Manufactured Home ReFi

Ryan FairclothPro Member
Member since 2021 · 3 posts · 1 vote

I'm looking for a lender who will do refi on a DSCR loan on a rural manufactured home (doublewide) in NC. 80% LTV ideal, but can go lower, if needed.

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  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 668 posts · 227 votes
    1y

    Hey Ryan! Can't get you to 80 LTV on that, but there would be some options. Feel free to shoot me a message if it would be helpful to look into that!

    [email protected]734-645-7722
    Gold Star Mortgage Financial Group548 Reviews
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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y
    Quote from @Ryan Faircloth:

    I'm looking for a lender who will do refi on a DSCR loan on a rural manufactured home (doublewide) in NC. 80% LTV ideal, but can go lower, if needed.


    The main issue will be the fact that it's Rural. .. Could be possible with an exception but will depend on the what the value and final loan amount is. 80% LTV might not be possible on a Manufactured DSCR loan. 70-65% LTV is doable.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
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  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    1y

    80% is tough for a cash out even on a "regular" property....you'll probably be limited to 60-70%, maybe 70-75% MAX. You're taking a hit for it being manufactured and also because it's rural. 

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC522 Reviews
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