Anyone know of a reputable mortgage company that finances modular home beside home as an investment property?
Answers:
as i understand it you hold an FHA loan here, try your local FHA specialist,
I know of a company but I am in california.
It's hard to capture a loan on a modular even owner occupied. Though FHA does them- but on investment it is pretty much impossible. You can try a bank but unless you waddle on water...... Source(s): 22 years mortgage business
A mobile/modular home is a fine place to lay your head if that is what you enjoy, but a bad place to put your money. Why are you looking at this as an investment? If you are looking to do a trailer park type deal the best bet would be to purchase a larger piece of domain and move in older homes you could wages cash for. But be prepared to spend a good bit on repairs and verbs up when you have vacancies.
A better option would be purchasing smaller single domestic residences or duplex/small apartment buildings to rent. Those would be easier to finance and would still be profitable for you. If you have any other question or need help finding a Realtor within your area that could help you discern free to email me.
Hope this helps,
Josh
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