mortgage for manufactured home

In order to get a loan on a MF home, it has to be "Ground Set" with an architectural certificate. In your scenario, you looking for a loan where you can purchase the home from one source, and the land from another source, and bring them together into one mortgage.. This can be done using FHA 203K rehabilitation loan... however finding a lender willing to do this type of loan is going to be very hard to find.. The worst type of collateral for residential real estate is a MF home.. They are the first to depreciate in a declining market, and the last to appreciate in a inclining market... lenders are aware of this and for that reason very few will lend on MF homes to begin with.. Let alone do a 203K... You can save yourself a lot of grief and headaches by just buying a single family site built home.. Or at the very least, a MF home already attached to the property.. 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. 480-287-5714 WilliamAcres.com

Roger, I would suggest you try Kentucky Housing Corp. Their website is http://kyhousing.org/ or you can call them at For more information contact: Kentucky Housing Corporation(502) 564-7630(800) 633-8896 (KY only)1231 Louisville Road, Frankfort, Kentucky 40601

In theory, it is possible to fit into the FHA guidelines, however, it will be very hard to accomplish.

My advice would be to consider alternatives to a manufactured home for several reasons. 25 years ago virtually every bank and mortgage lender provided FHA financing for manufactured homes, and some even did conventional financing too. Today there are less than a dozen lenders willing to do them, and it seems like every year another one says goodbye to that market. One of the considerations you should make when buying a property is your exit strategy. Meaning "When I'm ready to sell, will there be a market of buyers?" As lenders continue to leave, those that are left find less competition allows them to charge higher rates and fees. This will make it harder for someone else to buy your place, which means you will likely not get as much for the sale. It is harder and more expensive to finance older Manufactured homes. Today it is new, but in 15 years, will it be too old for lenders? We do loans on 100 year old houses, but won't touch a 50 year old Manufactured home. Finally, statistically, a manufactured home does not grow in value relative to the appreciation of a stick or stone built home. Although it may cost you a little more to build a home than to buy a manufactured home, in the long run, you may end up with a better situation. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

FHA is the best option for the smallest down payment (3.5%). If you go conventional you will be capped at 80% loan to value with us. I can do this loan for you. Call or email me for additional details. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

Good answers here and I only have one thing to add. It is all about comparable sales (comps) of other MF homes. If you are in an area of a lot of this type of housing then you should be OK because there will plenty of comps. I have seen people get into a MF home because the were enough sales at the time and then not be able to sell or refinance when the time came. In northern CA where I am, there are not a lot of MF homes so I say no to these loans.