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Updated almost 3 years ago,
Seeking Modular Construction Investment Property Loan in NY
I currently own 55 acres within the Adirondack Park and I plan on building a 1,000 square foot modular home on the property for short-term rental purposes. The building lot is cleared, electricity has been run, the driveway is in place and the well is ready to go.
I am in search of an investment loan and I would like to use my land as the primary down payment. While I have found many sources for stick-built loans of this type it is difficult to find lenders for modular loans of this type. This would be a true investment property and I do not want to utilize a second/vacation home loan as I do not want it to affect my personal debt to income ratio. Any suggestions would be greatly appreciated!