Pre-1976 Manufactured Home Financing for rental property in Arizona

Verde Valley, Arizona
Mortgage Brokers & Lenders
7moFollow

Pre-1976 Manufactured Home Financing for rental property in Arizona

Troy Carter
Member since 2024 · 2 posts · 0 votes

Hi, I'm looking at a property that is technically a manufactured home built in 1963, but has been completely remodeled with updated electrical, plumbing, and a entire stick-built house built on to the original single-wide, which basically only retains the original walls. The deal is excellent in terms of DSCR, but I've been unable to find a lender who will lend on this property. Anyone have any recommendations for what lenders might be willing to work on this? This property is in Arizona. I could buy cash but not interesting in terms of return without financing.

0Reply
272 views

5 Replies

Jump to latestLatest
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    7mo

    Is the property in a Rural Area?

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Troy Carter
    OP
    Member since 2024 · 2 posts · 0 votes
    7mo

    This is in Sedona, AZ. It's suburban (west sedona) but maybe considered rural under something like USDA.

    0Reply
    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      7mo
      Quote from @Troy Carter:

      This is in Sedona, AZ. It's suburban (west sedona) but maybe considered rural under something like USDA.


      Yes this will be tough. If it is a double-wide you can do 60-65% LTV and will require a minimum loan of $150k. Maybe a local lender might help if it does not fit that criteria

      [email protected]818-269-7983
      LuxePrivate Investments LLC 572 Reviews
      WebsiteView Page
      0Reply
  • John Lopez
    Member since 2026 · 12 posts · 2 votes
    5mo

    Hi Troy,

    Just commenting here about your property in beautiful Sedona, I am based out of Phoenix with my advisory firm and of course I love Sedona and all that area. Not sure if you already pulled the trigger here but I do work with Phoenix and Arizona based lenders that might be able to help you with this. I can certainly look at this with you and help you put this deal together which is my specialty, making the deal happened. Let me know and I can look at this with my lenders here in Phoenix, I know they might be able to see the potential in the property if they know the area as opposed lenders out of state or so. 

    0Reply
  • William Hamburg
    Real Estate Broker · Sedona, AZ · Member since 2015 · 59 posts · 29 votes
    4w

    Hey @Troy Carter did you end up getting that property? For me, I've done a ton of deals and as a rule, we no longer mess around with pre 78's. I would be extremely hesitant to pre 78' manufactured homes. The resale value and possibility of the 78' requirement year changing is imminent. There is tons of opportunity without taking on that much risk.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free