The Manufactured Housing Forums

Hi guys,

I need some creative financing ideas to cover the costs of site prep.

I own vacant land and paid cash for a newer doublewide in foreclosure, that is currently set up in a MHP. Now I need a loan to put in a septic, pour the foundation and move the mobile to the land. I thought I could use my equity in the home to secure a construction loan, but it is not that easy. I have not been successful in locating a lender that will do a home equity loan on a mobile that is not on a permanent foundation.

Any ideas?

I know that as soon as I get the move completed, the home+land value will be 3-4 times my current investment.

Thanks for your help,
Susan

You need a construction loan that you can fold into a regular mortgage. The problem stems from the fact that most banks don't do mobile homes, and most mobile home financers don't do construction loans.

You would have been better off paying cash for the improvements and financing the home or just financing it all as a package deal and using your cash as a down payment.

Try Wells Fargo because they do MH and with good credit are easy to work with.

I CAN DO IT FOR YOU EMAIL ME OR CALL ME 281-422-4500. I DO THIS FOR A LIVING.

Submit the easy request form you will find by clicking here. Several finance companies will contact you with information about their programs.


webmaster

I would be interested in your financing offers.
We are having problems finding acceptable financing for our home and land.
The land is free and clear but we need the money for lot improvement and acceptable financing for our home. We are not satisfied with what the in house lender has offered us.
Thank you,
Shelley

I need help getting a loan to buy property to my move my mobile home on. Can you help me?

My husband and I were renting an older trailer on 2 1/2 acres and have entered into an agreement with the owner to purchase the property. We are now trying to get a loan to pay off the land and purchase a new manufactured home. I am finding it difficult to find anyone who can help us. Any ideas on which way to go would be greatly appreciated.

Lisa