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can i change mortgage lenders. i got approved for a usda loan. then i found out that they don't do manufactured or mobile home .

by tishcarlton59 from Jacksonville, Florida. Jul 18th 2016 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Sure, you can change lenders. You'll also find that a large portion of traditional lenders do not offer mobile home loans. If the house was modular in initial construction, everyone should do that.

Jul 18th 2016
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Scott Fix (ScottFix)
#1330 ranked lender in California - 184 contributions

Tish, Great question. Joe Metzler is spot on with his answer. You are not bound to stay with any lender. Search out a local loan professional who has sufficient experience with such loans and who has a good reputation for great client service and good "on-going' communication skills during the process. Also, shop the rates. All the best, Scott.

Jul 18th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

I guess you can blame your loan officer for that.. a loan should have never been submitted on a property type the lender does not allow.. but to answer your question, yes.. you can switch lenders.. in fact, you should be with a mortgage broker rather than the local bank or credit union.. since brokers deal with many different lenders, ( I have 21), and each lender has different lending rules, then by dealing with brokers, you get to shop multiple lenders yet only need to apply once.. the more lenders, the more lending options, and the greater likelihood your loan scenario will be approved... All this in mind, even with my 21 lenders, only 3 allow for MFH's.. so there are lenders out there doing them, but not many.. contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jul 18th 2016
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Robert Newbauer (rnewbauer@mercurymortgage.biz)
#321 ranked lender in Florida - 1 contribution

Yes you can and I have several lenders who can do mobile homes. Let me know if I can help! Thanks Tish!

Jul 18th 2016
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