I'm trying to identify a lender who offers a high LTV on a manufactured home (HUD certified, permanently fixed on foundation) with a fmv around 400K (home is in CA). Also looking for good lending source for mobile homes for buyers with limited downpayments. Thanks.

You could save yourself a lot of grief by consulting with an FHA endorsed lender to obtain FHA financing on a manufactured home. Regarding the mobile homes....hmmmmm..... maybe someone else can offer a solution. Real estate loans are going through so much turmoil right now that mobile homes may be the last thing some lender will want to lend on.

Where in California are you?

FHA is going to be your best option for Manufactured Homes. FHA will approve up to 97% and you will have to request a structural engineer to inspect along with regular inspections/appraisal.

FYI- not all lenders will accept Manufactured FHA and if they do it will require a DU/LP approve/eligible and no manual underwrite.

Kelly

LTVs will be limited; interest rates usually higher, tough to finance if non owner occupied.

As for mobile homes, if they were built after 1976 there is some hope.

FHA is a good start.

These units simply do not hold their value the way stick built does and represent more risk to lenders.

Thanks. I will start by looking at FHA. I didn't know they had a program for manufactured homes.

Flagstar bank, 90% on purchase and r/t refi. Good company! Really fast!

Liberty American Mortgage http://www.libam.com has competitive products for Manufactured homes on permanent foundation. They do lend in CA.

Good Luck,

We have over 352 lenders and many of them do mobile homes, If you like you can call me and we can put together some programs you can use with your typical buyers.

You can then market those exact products to the buyers and have them come to you

Danny