The Manufactured Housing Forums

Hi ,

I am wondering how to handle the 10% downpayment I see that is required to order
a homewhen my finance guy says they dont fund until the home is set on manufactured home loans????? Is there a way around the 10%?? Our banker says he can send a comittment letter and that should be enough. I tried to explain that even if the the was stick built, it would have to funded as work progressed. He says manufactured homes are different???? Is that true??

Thanks
Sheryl

Any dealer should be able to accept the banks letter of committment and what ever your cash committment to the deal is..Meaning you give the dealer a deposit enough to cover the banks final requirememts..down plus closing costs.....I assume you are putting less than 10% on the finance plan..If dealer will not work with you..try another..