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Questions About BiggerPockets & Official Site Announcements, Home Owner Association (HOA) Issues & Problems, Real Estate Technology, Social Media, and Blogging, BRRRR - Buy, Rehab, Rent, Refinance, Repeat, Real Estate Development & New Home Construction, Real Estate Wholesaling Questions & Answers, Rent to Own a.k.a. They told us they only looked for liens against the property or things dealing with the land the house was sitting on. They denied it was their problem or withing the scope of what they do. Hey! Events, B2-3-02, Special Property Eligibility and Underwriting Considerations: Factory-Built Housing, How to do a hard refresh in Internet Explorer. Copyright 2023 1st Choice Mortgage Company | NMLS #380736. We treat our customers like family and are committed to building relationships that last long beyond the life of the loan. However, you cant even move your own property twice, nor can you prove where the mobile home came from as there was no permit and no way to document from where the house was moved, so if HUD chose, it could deny ALL reverse mortgages on manufactured housing by sticking to the literal terms of the rule. Bank Statement Loans (uses all deposits into bank account to calculate income, from 24 months all the way down to 1 month) Non-Owner Occupied (when the manufactured home is an investment property) Non-Prime (bad credit loans) 40 Year Terms. If the home was moved, as you believe, there should be a process in place to have the home re-inspected to establish it within the guidelines of FHA. That way, they set most of the rules and can finance homes that the big boys cannot. Talk about over-improved for what it is (non-institutionally-financeable). What is the issue? loan We offer some of the most competitive rates in the Nation! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); "Our experience with these guys was exemplarytheir knowledge, customer service, and commitment to getting us the right loan for our new manufactured home were remarkable. My lender who said they could do it just backed out and Im kinda screwed.