home on a basement/construction

[Patrick]

We are putting together our plans now for building a 32x90 double wide on a walkout basement. The bank has OKed us for a conventional mortage because of the spec's of the manufactered home (2x6 walls, 2x8 floor joist,heavy insulation) and because of the permanent setting of the home on a basement. In other words the bank considers this a site built home. My questions concern insurance. Is this still considered a manufactered home to them? Also the basement part (interior)will not be completed before we are ready to set the home on top. It may take 1-2 months to finish the basement and get all the approvals, before signing from the constuction loan to the mortage loan. I would like insurance on the manufactered part (or all) beginnning on the day it is brought to our yard. Any advice?

[Kenneth J. Quist]

Technically it is considered a manufactured home because it had a title, whether it is active or not. There are a lot of variables to consider. The unfinished basement should not be a problem. If you want to call 800-798-2288, I will be happy to discuss the possibilities with you.

[John]

A few years back, we bought land, built a basement, and put the home on the basement. A few weeks ago, I was inquiring about the possibilitites of refinancing since the rates are dropping. The bank asked if the title was "retired" They said if the title is retired, the mobile home would then be concidered a home. Any truth to that?

Thanks

[Patrick]

we are planing on using part of our basement as a workshop/garage for our motorcycles. any special considerations in construction with regards to insurance cost or acceptability?