Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Personal Finance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

38
Posts
11
Votes
Joe Schultz
  • Marble Falls, TX
11
Votes |
38
Posts

Financing for singlewide

Joe Schultz
  • Marble Falls, TX
Posted

I plan to by my parent's home. It's a singlewide mobile home that we've added onto etc.  I have recently found out that no matter what you do to a singlewide, lenders all see it the same and they don't offer any loans for them.  

Note: My parents will stay in the home with me but I will own it and pay taxes & insurance etc.

Financing, not finding any options. I was looking for a mortgage so I would be able to use savinngs to purchase 1 or 2 more rentals and get a tax benefit (making it my homestead). But if I get a different loan, I don't think I would get a tax benefit. 

Note: Counting next year's income, I could pay for this, out of my savings. Although I was hoping to buy 1 or 2 more rentals next year but if I use all my savings that won't be an option. 

Any thoughts on this would be appreciated.

Thank you, Joe

  • Joe Schultz
  • Most Popular Reply

    User Stats

    269
    Posts
    139
    Votes
    Samuel Coronado
    • Investor
    • Huntsville, AL
    139
    Votes |
    269
    Posts
    Samuel Coronado
    • Investor
    • Huntsville, AL
    Replied

    Put it on a permanent foundation. Do not mention it is a mobile home. New laws say they must treat it as a stick built home. Also, you do not have a "mobile home." You have a manufactured home that meets all HUD requirements.

    Loading replies...