Investment Property / Non-Owner Occupant Programs
Most lenders will not touch a manufactured home that is being used as an investment property and will only finance manufactured homes that are being used as a primary residence or a vacation home. As long as the manufactured home is on land and not in a park, we have options for non-owner occupied manufactured homes. Typically these will require 25% down (if it's a purchase transaction) or 25% equity (if it's a refinance) and rates are a little higher than they would be on an owner occupied home. These loans can be used in conjunction with many other unique loan attributes, such as stated income, reduced income documentation, interest only payments, 40 year terms, etc.
If you've been holding off on purchasing a manufactured home as an investment property, or if you haven't been able to find a lender that will refinance your existing non-owner occupied manufactured home, look no further. We can help.