singlewide: Florida Single Wides loans are getting tough
- 02/10/09 05:31 AM
FHA has no problem insuring single wide manufactured homes. The problem is that the FHA lenders, as of the writing of this blog, will not touch them. Even with the FHA insurance, the lenders won't touch them. Very few non-FHA lenders will touch them either. My list of single wide lenders is down to about 4 now! My best guess is that historically, people that purchase single wides are less well off and more suseptible to financial peril the the rest of the home buyers. Secondly, the single wide manufactured homes probably depreciate more than block homes and double wides. This … (2 comments)
singlewide: Manufactured home loans, just got trickier
- 12/19/08 05:07 AM
I dreaded this day. It seems the incidence of foreclosure are MUCH higher on single wides than block or frame homes. I can think of reasons that could cause this, but that's another post. Polk County has manufactured / mobile homes everywhere. From homes on land to homes in 55+ mobile home parks, every imaginable situation can be found in Polk County, and in abundance. They are beautiful, safe and affordable. But who lends on these homes these days? Financing is still available for these homes for purchasing or refinancing. It just became more limited geographically and another FHA sponser just threw in the towel, but … (0 comments)
singlewide: Mobile Home loans in Florida
- 11/16/08 04:55 AM
A day doesn't go by that we don't get a call for financing ideas on single wide mobile homes. There are so many in Florida, because people retire here on fixed incomes and single wides are a super value. But, if you can't pay cash for your retirement pad, what are the options, if any? FHA loans are available on single wides if you call the right mortgage expert (hint, hint). Single wides on rented land can't be financed by an FHA insured loan because the land is not part of the collateral. Here we'll need 20-30% down and a smart … (3 comments)
singlewide: Mobile / Manufactured Home Loans - Florida
- 07/11/08 04:40 AM
Manufactured / Mobile home financing is better left to the experts. This type of property is just DIFFERENT and, like anything else, if you do it every day you get REAL good at it. I've done financing on 1965 single wides, 100% VA purchases, tons of loans for homes in 55+ parks on rented or leased land. I'm an expert at FHA loans and the FHA programs are a lot simpler to do these days. If you have a manufactured home listing, call me to get the scoop on financing. Or, pass my number on to your clients and I'll help them … (0 comments)
singlewide: Mobile / Manufactured Home Loans
- 06/18/08 04:29 AM
Single Wide, Double Wide and any age! I've been doing this a long time and have the expertise necessary to get it done right. Purchase or Refinance - call with your scenario and we'll get it done for you. I was limiting myself to Central Florida, but with the lack of lending on this type of collateral, I am now throughout Florida!! Call today - 863-229-1235, let's see how I can help.
FHA has no problem insuring single wide manufactured homes. The problem is that the FHA lenders, as of the writing of this blog, will not touch them. Even with the FHA insurance, the lenders won't touch them. Very few non-FHA lenders will touch them either. My list of single wide lenders is down to about 4 now!
;)
;)
;)
