Loan for manufactured home

[Kyle Strouse]

Greetings BP community,

I am trying to purchase a "tiny home" with financing. My father owns a lot that is currently zoned for manufactured housing and has a driveway, pad, electrical, & plumbing hookups. I just need a home to put on the lot. There is a builder near me that makes "tiny homes" which are essentially small mobile/manufactured homes. They are around 400 SF and come fully furnished (appliances, A/C)...one of their "bigger" ones comes in a 2/2 configuration and is around $40,000. I figured another $10,000 for transporting it and utility hookup which I feel is more than enough. So let's say all in I'm around $50,000. We have other rental properties in the area and figure we should be able to get $750-$850 for rent which puts us well above the 1% rule.

I cannot find a lender that will give me a loan to purchase these things. Everyone only wants to provide a loan on a property that is already on the land. The builder provides in-house financing...at 13%. I can pay cash for the thing but would like to avoid it if at all possible. Does anyone have any experience with something like this, or can you think of a more creative way to finance this thing?