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Updated over 6 years ago,
Tapping into equity on a manufactured home
Looking for advice on how to...if possible...tap into the equity of a manufactured home I own as an investment property. I bought the home with cash, the house is manufactured..not mobile..and the house and land are all on one deed. I have a good renter, who is actually interested in eventually buying the home, but not in the near term.
I'd like to take a mortgage or home equity on the property so I can invest in another deal. But I've run into roadblock after roadblock. Traditional lenders don't finance manufactured homes, and even lenders I've found who do, don't do home equity.
Any thoughts?
Thanks,
Brad