Mobile Home Financing

Hello everyone

Long time no chat. I have a question for the guys/ gals who rehab mh’s. I have been presented with an offer to buy a big m/h on 1 acre. Appraisals on the low end are approx. $85,000. Purchase price $40,000. Needs approx $14,000 in repairs. I have a hardmoney guy who will loan the $$ on it for purchase and repairs contingent upon me finding a lender who will do the permanent financing at the end when I refi. I have spoken to about 4 people I know and no one will touch it. Back end is to rehab it and rent it. This area has NO rentals - no houses, trailers or anything available so renting should not be a problem at about $900+/ mnth.

So, my question is - how do I find a “traditional” lender to work with on refi-ing m/h’s after the rehab is done? Also, what about seasoning issues?


Well with MH knowing the year it is built is the issue, If it is a pre 1976 then it is harder to find a lender

Another issue is it on a permanate foundation or not if it is not then you can not go to a conforming lender

So I am guessing is both is a problem?

The MH is only 5-8 yrs old and is set on blocks that sit on a grade beam that runs the length of the house. It is also strapped down.


if you want to get permanate financing I would suggest asking your HML for additional funds to put it on a foundation and then you will not have any problems