I am a mortgage broker looking for a wholesale lender (not ACRA) who can do a DSCR rate and term loan on a manufactured home. Please let me know if you know of any. Thank you!
Hey Matthew, I'm happy to help with this one. My BP profile has my Blinq card with all of my info including a link for deal submissions. I'm also happy to hop on a call when you're free!
Smart to ask before you shop it, because manufactured is where a lot of DSCR matrices quietly say no. The wholesale lenders I shop that will take one usually want the home on a permanent foundation and titled as real property, with the vehicle title retired, and many want an engineer's foundation cert in the file. Single wides get turned down a lot more often than double wides. The appraiser also needs recent manufactured comps nearby or the value won't hold up. So pull the title status and the foundation paperwork before you send it anywhere. On these files the property decides more than the borrower does. Is it a single or double wide, and has it already been converted to real property?