Does anyone know if there is any lending on manufactured homes these days?

We had a Federal Credit Union loan 80% on one recently.

Wells Fargo is still lending on Manufactured, with FHA financing.

I searched the internet about a week ago looking for lenders that loan on manufactures homes and found that most of them went out of business in the last couple years. Like droll said, Wells Fargo is still doing them.

We'll try Wells Fargo then. Thanks,

I swear I answered this already...maybe it was posted twice?

Anyway I have found that the local, hometown banks (if you are lucky enough to have any; I have at least 3 in my area) are more willing to loan on them, esp. if there is a substantial amount of manufactured homes in the area.

Usually the interest is higher, they want at least 20% down, and some require that they be within a certain age & on a permanent foundation.

For all of my clients, I refer them to the local banks (never the big ones, as I loathe them and they don't need my referrals anyway.)

The only closings I've ever had with "issues" have been w/ "big" lenders. All of the ones I've had with "local" banks have gone smooth as silk.

Heck . . . . if they have 80% to put down, I'd finance them myself !

I think I could grow to really like Tubes, Tin Cans and Trailers.

I think Perky meant 20% down, and finance 80%. I agree with her, in that the big national lenders are a pain, but Wells Fargo was the only option we found recently for a low down payment.

The home will have to be FHA approvable, including FHA anchoring system, which could add to the expense if it wasn't previously an FHA sale.

Droll is right....lol...I meant 80% financing....

Wells Fargo is the only place we have been able to find who will do it. It's a short sale, currently financed through Wells Fargo, so maybe that helps.
County records has this listed as a modular, so we thought no problem, but at the recommendation of the lender, I went out to the property before the appraisal and verified the tags are manufactured, not modular.

Thanks all!

Well, you're all right. All lenders, including small banks, will require 20% down and like a 9% interest rate. Buyer doesn't have 20%...nor is he willing to increase his interest rate by that much for a manufactured home.

Back to the drawing board!

Or PMI to insure them for the missing Down Payment . . . . but PMI has pretty much all dried up for Mobiles.