Manufactured Home Financing with Land? Anyone? Anyone?

Up here in Montana we have the same trouble, only one investor is buying these loans.  Extremely difficult to get these done, and to this a cistern waiver for waterless properties and you have a real struggle on your hands.  Good luck!

The only people who still do it here in our area (Oklahoma) is Wells Fargo. 

Call this guy, he is the manufactured home financing expert here in AZ

My knowledge of FHA/VA/Conventional guidelines and how they apply to manufactured homes  prevents deal-breaking surprises.

FHA to 96.5% LTV

Second homes to 80% LTV Conventional loan.

-Fast, accurate prequals to each program's guidelines.

-Systemized process uncovers relevant issues at the start of the transaction...not the end.

-Aggressive pricing avoids the excessive fees other lenders charge.

Deal directly with The Expert!  Not an unlicensed "application processor" at a bank's call center.

Eric North-  Responsibly Lending Since 1995

NMLS# 234754

O'Dowd & Associates Mortgage   MB 6106 est. 1988    FHA, VA and Conventional

1819 E. Morten Suite 140

Phoenix, AZ 85020

602-248-4200 office ext. 214          

602-906-1048 fax

Eric@odowdmortgage.com

Great loans are still available.  Knowledgeable and guidance are the keys.

FHA is committed to lending on Manufactured Homes.

                        They are an affordable housing option that gels with their purpose of facilitating home ownership

                        -At 3.5% down, FHA has always required the smallest down payment outside of VA loans.

                        -Down payment can be gifted from a relative or employer.

                        -Common sense credit guidelines which allows for blemishes.

            VA is also committed to manufactured home lending.

                        -No monthly mortgage insurance.

                        -Common sense credit guidelines.

            Conventional- Limited to 80% LTV because of the lack of mortgage insurance available.

                        -No monthly mortgage insurance premium. 

Second Homes to 80% LTV.

A Loan Scenario Flyer tailored to your listing shows a buyer that the Expert has great financing options for the home.

Avoid the High Fees of the "loan salesmen": call and compare... Call the Expert

Don't let amateurs practice trial and error with your clients!

          *Call me...I am available to answer your questions.

          *Feel free to place my contact info in your listing.       

          *Email me your listing for a customized loan scenario

***Email me a copy of your listing, and I will customize a loan scenario for the home.

            Attach the scenario as a document in your listing on the ARMLS system.

Manufactured Home loans are very different...Call the Expert!

The FHA Advantage:

3.5% Down

100% Gift Funds Allowed     

6% Seller Concessions allowed

Lower monthly MI cost

Lower credit restrictions

Loan is assumable

Most loan officers have no experience with the constant changes in manufactured home loans. 

Protect your transaction by requesting an LSR from the Expert.