Financing in Chicago>Question Details

Paul Reiter, Real Estate Pro in Chicago, IL

Can a new HUD code manufactured home be aquired on a lease to own contract. I have a properly prepared/no mortgage lot.

Asked by Paul Reiter, Chicago, IL Wed Jan 9, 2013

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Manuel Brown (312) 600-5710’s answer
Paul,

Please see the attached.

I don't really see any requirement about the HUD code in regards leasing a property. However, as you get closer to the time or purchase there may be some kind of requirement. My advice is to contact your local HUD office to get all the details.

Best of Luck,

Manuel Brown, Broker
iMove Chicago
0 votes Thank Flag Link Wed Jan 9, 2013
There is currently no manufactured home that will qualify for use in the City of Chicago. These regulations vary by municipality, but the regulations are tighter all over the Chicago market place.
As for the lease to own, that would be a contract between you and the builder/owner, the end loan will be the challenge, if you can find a local municipality that will allow the structure.
0 votes Thank Flag Link Wed Jan 9, 2013
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