The Manufactured Housing Forums

We ahve sold our stick built home and are now considering a purchase of 13+ acres with a 1997 Horton 27 x 60 manufactured home in the metro Atlanta area. We have excellent credit with only one car payment for debt but will need a 95% loan is this doable for a 30 year fixed mortgage. Our buyers agent is telling us that we need to just do a lot land offer on this property and state that they leave the home, Can we even finance it that way? Need advice since we will be out of our home the end of June and need to be in a new place before August.

You should haave no problem...Call Wells Fargo at thie number ands ask for kelly or Allen Coleman....both specialize in manufactured homes..


Well Fargo Home Mortgage
1751 MERIWEATHER DRIVE
BUILDING A
BOGART, GA 30622

Office: (706) 425-4246

Thanks for the info. We will eventually build our "last" home on this land (within the next year). I am considering a modular probably Discovery by Palm Harbor or site build it myself since I am a commercial GC and already have subs for everthing except framing. But after reading post here I am wondring if I should also look at higher end manufactured. We will want a full basement and will want to weigh price per sf with quality of construction. Any thoughts on these areas would be appreciated.

Sounds nice...Sounds like you have looked at the Discovery Custom Homes...It is indeed a compliment that an experienced construction contractor would consider one for his personal home...Sounds like a great plan...If I were working with you..I would be suggesting you mortgage only about 10 acres with this Horton Home..that would leave about 3 acres F&C for future mortgages and home location and a asset on your personal P&L...If you are buying right...This should be entirely possible..the only extra cost would be the survey to subdivide the lot...I just helped a customer buy 65 acres to build his Discovery Home on...He mortgaged only 30 acres with the home and ended up with a great home on 35 acres with a mortgage and 30 F&C acres for the future..

All these aggressive plans require a appraisal high enough to make this work..
I would hope your Palm Harbor Consultant would have made some good suggestions along these lines and been able to refer you to a local mortgage originator to help you now...I am in Augusta, We have been building Discovery Custom Homes all over the state..I would be happy to discuss your plans in detail if you wish. Call 866-866-4758 and ask for Bob

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We do FHA loans with a down payment assitance program so people can do "100%" financing on a construction loan.