Newsflash: Best way to finance a land purchase and construction of new double wide manufactured home?

Hi there,Wife and I are first time homebuyers (currently we are renting in upstate NY) and we are considering finding a lot and putting a new double wide home on it. This would be permanently affixed, with a full foundation or basement if possible.My question is how can we finance this? Would a standard construction loan cover us? A standard mortgage? Many of the mobile home financing options I see are 23 years…is it even possible to get a 30 year mortgage for this?I’m going to be calling several banks/lenders in the next few days for more information but wanted to see what insight this sub could provide.

Read more at https://www.reddit.com/r/RealEstate/comments/75oaqh/best_way_to_finance_a_land_purchase_and/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s