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looking for a usda loan to buy a modular home

by sandrasummers98247 from Ione, Oregon. Jun 11th 2015 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

On the "Community" tab above, right.. Select "Find a Lender".. type in your zip code and you should get a list of local mortgage brokers in your area. then start calling.. Also, more info would be needed.. Mobile homes and manufactured homes are pretty much the same thing, but some companies will call them modular homes, and that's not a correct description. If it is in fact a Modular home, meaning that sections of the home were built according to the Uniform Building Code for site built homes, but were built off site and shipped and assembled on site, then this would qualify as a modular home and most lenders do not differentiate these from a single family home.. MFH or mobile homes are very different.. and finding a lender to do one is more difficult.. so the best advice I can give you is to 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

Jun 11th 2015
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

USDA only works with new mobile/manufactured homes(construction), using their approved contractors. Modular Homes are technically considered stick built homes, which is fine with USDA. I can help you with this. Feel free to contact me, or apply online at www.loanharvey.comThank you

Jun 11th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 598 contributions

The only time you can do modular USDA is when you are doing a new purchase of the modular unit and placing it on the property. You will have to look at different options if this is not the case.dcondron@rightstartmortgage.com

Jun 11th 2015
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Emelda Harris (EmeldaH)
#71 ranked lender in Minnesota - 2 contributions

Hi, SandraGreat to meet you!I am a Commercial Lender for Businesses but have a couple referrals for you:1) Charity PetersonMortgage Loan Officer at U.S. Bankt 503-341-50322) Sue HekkerNMLS 1252548Loan OfficerPortland, Oregonshekker@mtgxps.comPhone: 503.517.9323Cell: 503.481.1777Much success to you! Emelda HarrisExact Business Funding

Jun 11th 2015
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Chris Barry (TheLoanDoctor)
#45 ranked lender in Oregon - 41 contributions

Modular Homes are dealt with the same as stick built homes.USDA llows them, so long as they are financing the take-out, not the construction. Builder or buyer will need to front the funding for the set-up.Contact me directly and we'll make sure it'll work. There's a lot of moving parts to a mortgage these days (smile)

Jun 11th 2015
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