Manufactured home finance?

[ddevore]

I'm looking to finance a manufactured home in the IE - it's on a prem. foundation , 5 acres and right now I owe nothing (also just put up 3200sq ft garage on property). Anyone know of banks that do this? BofA said they don't even though I only want like 1/2 what it's worth and really owe nothing else...
Thanks!
Dennis

[tamalewagon]

We have had good luck doing these through Union Bank.

[gramps]

Wells Fargo

[SUBPRIME]

US Bank or Countrywide gotta be full doc and the LTV's are limited

[Screemy1]

so you are going for a 1st mortgage... on property you owe nothing??? You might just be able to go off land value.... or something.... hmm, I would have to ask my wife... she is in the biz.... but I am here and she is at work.... yeah I am one of those guys.... she is the bread maker.... I am the house man.... that works only 35 hours a week

[Wheeler]

If you have any problems, call John at Southland Lending (714)851-2242
He is in HB, it is now a good time to call, as Lent is still going on. After Lent, The River!

[ddevore]

Thanks for the tips. Yeah, I don't owe anything on it after my old house closes in 3 weeks... I'd be intrested to see if I could do a loan on the land or not, it's a great piece of property - worth way more than the house is right now (that's what I want more money for).
Dennis

[TOBTEK]

is it "manufactured" or "Modular" ?? BIG DIFFERENCE! I have a client that I do a ton of this loans for. Check your title to make sure what you have going on. If you have any questions give me a call.... have done alot of these loans. Toby

[boatnam2]

better hope it is a doublewide not a single.

[ddevore]

The existing is a double wide - not modular... After I get the loan I'm adding a second unit that's a triple, modular and an awesome foundation (just need cash to pay for the unit now).
Dennis

[dicudmore]

American General will do manufactured homes if they are converted to real property