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Updated about 2 years ago on . Most recent reply

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Rachel Byers
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Line of Credit for Manufactured Home?

Rachel Byers
Posted

Does BP have lenders that'll give a line of credit for a manufactured home? It's our very first house hack that we've lived in for the last 7 years. It's a 1978 but has been completely gutted to just the 2 x 4's. Everything is new & updated. It's in a very nice manufactured park that's very popular for a college town. There is a waiting list of buyers wanting to purchase homes in this park. The comps on surrounding homes reflect an accurate appraisal for our home with our home being appraised higher due to a large private & desirable lot and beautiful view overlooking the mountains, Thankyou!

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Rachel Byers don't kill the messenger here...but this is not something that exists in the lending world.  Its really hard...like REALLY hard...to get any lending at all on a mobile home that's an investment property.  Things like Single-Wide vs. Double-Wide, if it's been moved previously, if it's considered "real property" legally, etc. will all have a bearing on if ANYONE can get lending on this property.  When buying a mobile home as a primary home it's much more challenging...as an investment property it's almost impossible.  

Look to finding about personal loans or talking with private lenders.  That might be your only solution on this property type. 

  • Andrew Postell
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