Home Buying in Leander>Question Details

Rebecca Woot…, Real Estate Pro in Austin, TX

I need a lender for my buyer that will loan on land with a mobile home on it.

Asked by Rebecca Wooten, Austin, TX Sat Aug 17, 2013

I need a lender for my buyer that will loan on land with a mobile home on it.
The property is less than $100k.

Thank You,
Rebecca Wooten, REALTOR
Spencer Properties-Broker
Cell: (512) 662-4020
http://www.MyPerfectTexasHome.com
Rebecca@MyPerfectTexasHome.com

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Answers

3
Might be too late, but Brian is good with these types of loans.
JM

Brian Cisna
Mortgage Banker
NMLS ID # 621108
Bank of Texas
11044 Research Blvd
Building C, Suite 100
Austin, TX. 78759
512.743.3335 I Cell
512.527.6811 I Office
713.354.0213 I Efax
bcisna@bankoftexas.com


APPLY ONLINE AT: http://www.bankoftexas.com/briancisna
0 votes Thank Flag Link Mon Jan 13, 2014
It's probably a little late to help, but there are lenders, that finance manufactured homes, not just the land they sit on. I keep a list of them, and am happy to share the info with other real estate agents. If the manufactured home is a doublewide, I know a lender that would finance with loans a small as $55,000.
I also have some singlewide referrals, though I have not done business with them yet.
Contact me with more info on the property, and I can see if I can match you up.
0 votes Thank Flag Link Fri Aug 30, 2013
Hi Rebecca

Although I am a real estate agent now I come from over 15 years in the mortgage industry. In a situation like this you are looking at just the land loan. Even if the mobile home is on a foundation lenders won't consider the mobile home an "improvement". So you have to make sure the land is worth the purchase price. Most land loans are short term 3-5 years and require at least 30% down. Good luck!

Joe
0 votes Thank Flag Link Sat Aug 17, 2013
Thanks Joe! :)
Flag Sat Aug 17, 2013
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