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Can you get a VA loan for a mobile home on leased land. We own the land, and will lease it to my Son-n-law and daughter.

by lorrainestricker125 from , California. Apr 18th 2018 Reply

I should mention, that my son-n-law is a 100% disabled veteran, and the state is Colorado. We can make the lease for the full term of their loan 20 - 30 years.

Apr 18th 2018
Mike Shaw (MikeShaw)
#179 ranked lender in Colorado - 9 contributions

If it's leased land you cannot. Here's a solution, add them to the title of your land. Also it has to be on a permanent foundation to get a mortgage, so you might as well add them to title, they could get the loan without you cosigning. I work in Colorado, call me if needed.

Apr 19th 2018
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

No.. VA is for mortgage loans.. and mortgage loans are for "Real Property".. a MFH home on a leased space is not considered "Real Property".. The home must be architecturally attached and an affidavit of affixture must be filed with the county.. once this is done, the land will be re-assessed as real property, and the taxes will go up, but then he can get a mortgage. A solution would be to purchase the mobile home, have it attached to the property, get the affidavit, and then sell him the land and home.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 20th 2018
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