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is there restrictions on square footage for manufactured property for va loan?

by jan_camorra098766 from Lakewood, New Mexico. Feb 6th 2015 Reply


Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,252 contributions

NOTHING less than 800 sq feet on any types of manufactured home loans

Feb 7th 2015
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

There are lots of restrictions when financing manufactured homes. Good luck finding a lender that offers VA loans on one. I'm sure there are a few

Feb 7th 2015
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Timothy Howard (timehoward)
#70 ranked lender in Utah - 150 contributions

I have a lender who can do manufactured homes on VA. Please email me and I will get you in touch with themtim.howard@greenstreetbanker.com

Feb 8th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

Yes, but not just square footage.. there are many other restrictions as well.. VA requires 800SF or bigger.. but understand that VA does not lend money, they only insure loans against default.. each lender offering VA Financing will oftentimes have their own set of rules called "overlays".. it's there overlays that will add additional guidelines making MFH's even more difficult to finance.. If you can avoid it.. stay away from MFH's.. they are the first property type to decline in value during a bad market, and the last to go up when the market improves.. lenders know this and price these "More Risky" loans accordingly.. higher interest rates and larger down payments.. Much more info would be needed.. like a LOT more.. which space is bigger, the commercial space or residential space, what type of business is being run out of the commercial building.. are there or could there be any environmental issues, Is there acreage associated with the property, and if so, how much? What are the borrowers qualification. income, debt, credit scores.... etc, etc, etc.. I could go on and on.. It's impossible to quote a rate without looking at the complete loan profile.. and with commercial, because of the large amount of work involved in putting a quote together.. a lot of lenders wont quote you unless you go through the complete loan application process.. 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

Feb 9th 2015
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