We are investors that are just moving into a new area of Investing. We have found a great demand for a land/home package with mobiles or modulars as the residence. I am really in need of finding a lender that will work with us. I don’t mind paying a higher rate for the service. Any kind of lender would be greatly appreciated.
Thanks
Paul
Paul,
I’m not sure what area you are in but I would recommend a lender I use in AZ, Sunset Mortgage. Their website is www.factorybuiltlending.com. Ask for Ken or Chris 866-898-1465 and please let them know you heard about them from Matt at Harvest Homes. I don’t get a commission but I would like them to know.
If you are interested in building modular homes in California please contact me at 805-223-5009 and I would be happy to assist you in any way I can.
Paul, What is the market area?
Paul,
These loans are easy to do. If you want to take the loans conventional conforming or non-conforming you will have some LTV guidelines. For a 20 year loan/ 95% is your max LTV for a 30 year loan/ 90% will be your max LTV. Do the borrowers already own the land? Also, what state would these properties be located?