Update on Lending to Manufactured Homes
This is a really relevant article because of the scarcity of supply for affordable housing. Loans on manufactured homes are often times 1 or 2 points higher than traditional mortgages.
If the interest rates and the process of taking a manufactured home from being personal property to real property can be streamlined this could be a new avenue for affordable rural housing.
Our brokerage has helped a few clients recently buy vacant ground and help plant a manufactured home with well and septic in Phoenix. This story in the WSJ talks about the new loan products out there to help buyer's get this done.
Click here for the article.