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Used MOVED Double Wide Financing?

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Used MOVED Double Wide Financing?

Postby » Sun Oct 12, 2008 10:21 pm

Just a quick question. I have been told it is impossible to finance a double wide that has been taken apart and moved. From my understanding only FHA has this restriction. Can a piece of land, say 5 acres and a used D/W be financed together or do they have to be financed seperately? Say a guy has $20K cash to put down and the value of the home is 50K and the land/well/septic is 50K. Is this doable??
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Re: Used MOVED Double Wide Financing?

Postby » Sun Oct 12, 2008 10:54 pm

The short answer is YES !
 
Manufactured housing went through its credit melt down in the 90's and today there are dozens of strong lenders that understand the market the prospects the retail community.  The vast majority make loans for used homes that were built after the passage of  federal HUD code, going back into the 1970's.
 

Financing or refinancing your manufactured or modular home isn't as difficult as you might think. You may be surprised to see the variety of loan options available. Whether you are purchasing a new or pre-owned home, refinancing, or looking to cash in on some of the equity you have built up there is a financing option that's right for you

 
As with any loan the better your credit and the bigger your down payment the better your chances of finding the best possible loan.  There are loads of ways to hunt out the best possibilities.  The one I like the best forces the lenders to compete for your business.  Click to http://manufacturedhomelender.com/ and select the type loan your looking for on the right and submit the short form.  The will locate a manufactured home lenders in your area offering the loan product that best suits your needs. The independent lender you select will work with you to help find a low-cost loan that meets your needs. Apply today
 
 They work with brokers and lenders across the country so they can offer the kind of manufactured housing loans that will meet your needs. They  also work to make sure you have the resources you need when researching for a manufactured home loan. We've developed tools to make it easier to find the right loan product 
 
Some of the useful tools on our Web site include:
  • Several different mortgage calculators.

  • A glossary of loan terms.

  • wide selection of articles to help educate you about manufactured home loans.

  • A loan quote form to help you find a mortgage lender
  • David Oxhandler
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