Financing for Manufactured Housing in a Coop

This scenario is a little different because the homeowner techinally owns the land but in the eyes of the lender they don't. A coop is a situation where the hoeowners puchase land together and then create equel shares which are a right ow ownership.

This creates a little bit of a situation for the lender if they have to foreclose because lenders wnat to foreclose on the land and the manufactred home (singlewide or double wide.)

The solution to this problem is to find a lender who is not worried about the land. I have such a lender who basically treats the whole scenario like a loan where the person is buying in a park.

Rates will be around 7% to 17% and I can lend up to 95% of the value of the home.