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Updated 1 day ago on . Most recent reply

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DSCR Loan on a Manufactured Home

Jefferson Black
Posted

Hello! I've seen a lot of people ask questions regarding loans on manufactured homes, but I didn't quite find what I was looking for when searching. I have a double-wide manufactured home on about 5 acres in CO, and I own it outright. I just finished remodeling it, and I want to take out a loan against it. Comps put it around $500k. I know there are issues with financing manufactured homes, but I have a lot of equity. If I can't use it, I'd rather sell the property. Are there any ways to use the equity that don't have brutal rates? Thanks!

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Jefferson Black
Replied

I’ve decided that doing a 1031 into a more traditional property is the best move, here. Thanks for your advice, folks.

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