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Updated almost 8 years ago,
Mortgage for two manufactured homes on a single parcel
I own two manufactured homes on a single parcel.
When I purchased the property I called a number of banks and was told by them all that they would not loan on more than one manufactured home on a single parcel.
I ended up paying cash, but would like to use the equity in the property with a low interest mortgage. Any suggestions on lenders for this? I didn't think it would be a difficult property for a standard conventional loan. I mostly talked to local banks before, maybe there's a bigger bank more friendly to this sort of thing?
I do plan to talk to the county about subdividing, but I know they don't usually approve that in my area. They probably would eventually, but I would like to use the equity asap.