MH Mortgage
I live in CT, I have an opprtunity to purchase a MH in Daytona beach, it is fsbo. This MH comes with land that is owned and part of the deal not rented.
What are my options on 40k sale price for mortgages. I have several MF here but have never dealt with a MH mtg
BTW-this is my first post here-great site.
John
Countrywide is well, a country wide lender and they do doublewides on land. You will pay a premium for MH plus low loan amount. Same for Wells Fargo but don't know if they are in your area. I'm sure there are some more local lenders that I am not aware of.
Good Luck
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Joan- thanks. I know the mgr of a newly created countrywide office. I have a call into him but had not heard back.
John
I can't help much but I was talking to an underwriter and her husband has a mortgage brokerage firm and she told me there is a company that does mobile home mortgages, I just can't remember all the name. It is Green... something. I hope this helps.
I am a mortgage banker/broker, and I can tell you most lenders are running from financing any mobile homes.
Wells Fargo is no longer acceptting mobile home loans as of February 1st. I do not know about Countrywide, however they are never the most agressive lender ont the street.
Options stil exist if you have excellent credit. Probablly with good credit Countrywide and Wells would still do the deal.
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