Posted on: 30th Oct, 2012 11:56 am
I have a 2002 32x80 Manufactured Home on 9.5 acres. I would like to have a FRM for longer than 10 yrs. I get the run around about bundling a manufactured house with a mtg. I have excellent credit and owe less than it is appraised. I would like to know if their is a traditional loan available and/or if the unit needs to be titled different, then how do I convert this into an actual 'house'.
Hi Guest,
As the property is a manufactured home, you will have to contact the local lenders and apply for a mobile home loan. Your property should meet the required criteria in order to qualify for the mobile home loan.
Thanks
As the property is a manufactured home, you will have to contact the local lenders and apply for a mobile home loan. Your property should meet the required criteria in order to qualify for the mobile home loan.
Thanks
It is generally a little difficult to obtain a home mortgage loan by keeping your manufactured home as collateral. But, given your home set up and of course your credit score, you have good chance of getting a home mortgage loan.
There is no need to convert it into an actual house. The idea of mobile or manufactured home is very much present in the country. You can try out obtaining a mobile home loan.