Updated 3 days ago on . Most recent reply
DSCR Loan on a Manufactured Home
Hello! I've seen a lot of people ask questions regarding loans on manufactured homes, but I didn't quite find what I was looking for when searching. I have a double-wide manufactured home on about 5 acres in CO, and I own it outright. I just finished remodeling it, and I want to take out a loan against it. Comps put it around $500k. I know there are issues with financing manufactured homes, but I have a lot of equity. If I can't use it, I'd rather sell the property. Are there any ways to use the equity that don't have brutal rates? Thanks!
Most Popular Reply
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- 1,406
- Votes |
- 4,542
- Posts
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
You can finance manufactured homes with a DSCR loan. the max LTV is 65% for both purchase and refinance. It also cannot be on a land lease.
- Erik Estrada
- [email protected]
- 818-269-7983
