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Updated almost 2 years ago,
On frame modular financing
Hello! I am looking at putting a cash offer in on an on frame modular HUD property. I would be using my own HELOC for the purchase and would like to get a cash out mortgage on it after the initial holding period. Anyone have any advice on where I should look for financing? It appears that the banks I have looked at will not do an on frame modular. The property does come with its own property and is on a permanent foundation.
I do have a mortgage on my primary residence but it’s not an FHA loan. I do not intend on moving into the investment property. Any advice would be appreciated!