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Updated over 9 years ago on . Most recent reply

Account Closed
  • Investor/Plastics Recycler
1
Votes |
6
Posts

Manufactured Home Lenders

Account Closed
  • Investor/Plastics Recycler
Posted

Hey guys,

I recently had an offer accepted on a foreclosed double wide manufactured home on it's own land in a condo community. I'm looking to fix it up and rent out at some point. I'm really struggling on finding some tolerable financing options for it. The best one I could find is 10% down with a 6.75% 5/1 ARM. This really isn't acxeptable to me because my credit score was 750 about two weeks ago. I have a well maintained three family home that will be fully occupied as soon as I move out of this apartment. My plan is to rent this unit out and use that rent to pay on a new loan for this manufactured home. Does anyone here know of some reasonable lenders for manufactured homes on their own land that service the Wisconsin area? Much appreciated!

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