Looking for lenders or investors that finance mobilehomes

Financing, Hard Money Lenders, Private Money
1

Hello all,

I am a Mortgage Broker here in Daytona Beach. I am looking for financing for a 1969 doublewide with lot for my client. I have a lender that will do these type of loans, but they want 25% down. That is too much for the client.

Great credit and income.
90% LTV

Can someone recommend a lender or Investor that I would appreicate it. :smile

Love REICLUB…

Thank you

Dee

2

Dee,

Conventional lenders will require that the manufactured home be built after 1976. Also, you might try Green tree financing for your lending needs, but other than that there are no lenders that will loan on a NOO manufactered home.

3

Thank you for your response.
Realizing the age of the mobile home pervented it from being a conventional loan, is what lead me to reaching out here at the REICLUB, trying to think outside of the box. :smile

Do you have any contact information for Greentree Financing? I am sure I can search it out.

There is one lender that I know of that will finance older mobilehomes, but they are asking for 25% down, which is a little more than my client has.

I will try local banks today, at this point I want him to get into his home.

Again, thank you for your response.

Make it a Great Day!!

Dee