Are you already under contract? I mean, has someone written an offer on your house? If so, I imagine that you want to keep it together!

Try to find a contractor who is willing to be paid out of your proceeds at escrow. If they know that your home is under contract and moving to closing, there are some who will take payment from escrow.

FHA is the big loan right now, so you hate to knock out that pool of buyers.

Have you gotten a bid for what it will cost you? You agent might be able to help you find a contractor.

I hope this helps! Best wishes, Linda

You can encourage an offer with conventional financing if you offer special buyer incentives. Your listing agent could could specify that "seller will pay 3% toward buyer's closing costs/pre-paids with conventional offer" or "Seller will provide $3000 buyer bonus for conventional offers" etc. These type of costs occur at closing so they don't set you back now. You could calculate the incentive to equal the cost of FHA retrofitting.

FHA is a very popular loan program now. It requires less of a down payment from the borrowers, but if the buyers have a large downpayment, 20% or better than conventional would probably be a better way to go.

An FHA loan requires doublewides to be "retro-fitted" (and must be signed off on my an inspector before the loan approval ever gets out of underwriting) which in Granbury, Texas costs about $3K.

Most of my buyers are qualifying for both FHA and Conventional loans. It will depend on your specific situation and needs as to which would be best suited for you. Your loan originator will provide you with information on both and help you make an informed decision. There are situations where credit score, debt to income ratio, and available assets will determine if you qualify for one or both.

Lending answer:

Tie-downs using concrete anchors (soil anchors are unacceptable) will be required for an FHA approval. Closing cannot occur until the property has been upgraded and the appraiser has filed HUD Form 92501.
The appraiser will need a paid invoice from a licensed contractor and will have to re-inspect the property to verify the work is completed according to FHA requirements.

In addition to the first two comments, FHA always requires tie-downs. Your agent should be able to help you negotiate your way through this. This is a very important requirement to accept, in your own bests interest.

Hope these suggestions are helpful!

Having a high credit rate, ask if you can borrow more and ask the buyers to pay some closing cost. This will give some extra cash to make the repairs after closing. Here is Carteret County, mobile homes have to have a permenant foundation, then the loan is based on the lot. Good Luck.

I am no expert on financing for double-wides, but you may be able to pay for the improvements at closing, with proceeds from the sale of your home. Check to see what it will cost to have the straps installed and ask your repairman if he can wait until closing to receive payment.

Good luck!