The Manufactured Housing Forums

I own a 2001 double wide in a park and am tying to find a lender to do the final mortgage, and a construction loan, to move it to some land. Does anyone have any ideas? Every mortgage lender I have talked to in my area have told me they won't touch it because it is a used home. By the way I am in Colorado Springs if it makes a difference.

Almost ALL mortgage companies will do this...You must have gotten information from FHA lenders..They cannot do used homes..

But all conventional lenders can and will..

Try the loan section here...You request is free and you will get good answers from some of the largest national lenders..

By the way...you should be talking to mortgage companies...not banks..
Example
Wells Fargo Mortgage
Indy Mortgage
Chase Mortgage
Greenpoint Mortgage

The list goes on..

I have tried Wells Fargo and a few other mortgage caompanies in town but I didn't specify. Maybe if I tell them non FHA it would be better. Thank you for your sugestions. I will try the one on here.

Keep us informed...I will be happy to help further if you need it..

Check with local dealers...especially larger dealer specializing in nice homes or modulars...Ask who they finance with..

The finance person will be happy to refer you to one that he deals with...He might even get a free lunch out of it..

Noticing you were in Colorado Springs, I have to mention I am in Grand Junction and am quite familiar with our regional manufactured housing lending trends. Knowing the housing demands in the denver area, and providing you are not too terribly attached to that particular home (seeing as a floorplan can always be duplicated by versatile dealers), a common solution would be to leave the home where it is currently "parked" and sell it on-site, either cash or financed. I would not recommend any type of owner carry unless it was a down payment ONLY being carried. This is also a good way to come up with an little extra down for any appraisal differences you may encounter due to landowners asking a little more than a vacant land price should go for. You may have to stay in a rental for about 30-60 days but that is something the dealer might even be able to help with a little.
I am a dealer in Grand Junction and would be happy to answer any and all questions you may come up with. Sincerely, Jarod.

I have been trying to sell it where it is for a year and a half. The problem I am running into is the payoff is too much. $75,000 I have had it advertised as an assumable loan and as soon as people hear what the payments are they don't want anything to do with it. Payments are $800 for the home and $325 for lot rent $1125 for a house on a lot that you don't own is not that great. I think I got screwed when I bought this home. I would do anything to get rid of it or move it to a permanent foundation. I want out of the park. i am talking with a mortgage lender now. She is looking into some stuff for me.