Do you have to get a traditional mortgage type loan on a manufactured or mobile home.Could you get a typical loan?

Asked by edwin.strawn, Golden Valley, AZ Sat Aug 18, 2012

I have heard that if it is not stick framed,sitting on a foundation that you would not have to get the traditional mortgage.

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Amy Casanova, Agent, Lake Havasu City, AZ
Wed Oct 23, 2013
There are many lenders that have programs for manufactured loans. Including Wells Fargo that will even finance singlewides with VA or FHA. I deal with these lenders on a regular basis.

For more details I would I would be happy to assist you, I'm always available.

Amy Casanova
Silver Sage Properties
Golden Valley, AZ
0 votes
Vivien L Big…, Agent, Scottsdale, AZ
Sat Aug 18, 2012
Hello Edwin,

Eric North- 602-248-4200 ext. 215

Eric is a Manufactured Home Lender and can give you all the details of purchasing a home.

Have a GREAT evening!

Vivien L Biggs PLC
Prudential Arizona Properties

Check MLS for homes on my website
0 votes
Bill Parker,…, , Scottsdale, AZ
Sat Aug 18, 2012
Hi Edwin:

It is kind of different hearing someone come at this question from the opposite direction of most--those who want to get the "traditional mortgage loan" due to its lower interest rate.

It is impossible to get a traditional mortgage loan on a manufactured home UNLESS it is sitting on a foundation, as the lack of a permanent affixing to the ground makes it personal property, NOT real property. (Lenders want the stem off, most want at least double-wides, etc.)

There are also many other issues with manufactured homes--if built before 1976 it is difficult to get financing (new standards went into effect that year, which lenders want); many tend to be on large tracts of land, which shifts the loan from being based on the value of the residence to being more of a land loan; etc., etc.

So, you are in luck, you can get the loan type you want. I believe the builders of these homes are one of the best places to start in finding a lender, as well as your local credit union or bank.

Take care.

Bill Parker
NMLS #223607
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