203K Streamline for Manufactured Home?
My wife and I have found a Manufactured Home on a partially finished basement, 5 acre lot, that we are very interested in. It has been vacant for sometime and needs carpet, a couple windows, a few doors, interior paint and some sheetrock repair (home has been vandalized while vacant, someone kicked a few holes in the walls, doors and wrote all over the walls). Estimated repairs are around $10,000 including a 10% buffer. The home was built in 2000. My credit score is around 675. Are there lenders that are able to finance this kind of home with a 203k streamline? by theveryfirstperson93 from , Missouri. Jun 16th 2014
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
That's a tough one.. Manufactured home are very undesirable, as well as 203K's, combine the two, and you have a very difficult loan to place.. if you have the ability to pay cash, you can get a great deal on it, do the necessary repairs, and then apply for a "delayed financing" cash out refinance. If anyone here responds and says they can do it, then I would go with them.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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