GOOD LUCK! VA loan to purchase a manufactured home in Tampa Florida

VA loan to purchase a manufactured home in Tampa Florida

Need a VA loan to purchase a manufactured home in Tampa Florida area or anywhere for that matter? Good luck! Although it may be known within the VA loan industry, most buyers are not aware of the difficulties in obtaining this type of financing.

Are there lenders willing to loan for the purchase of a manufactured home? Yes. Plenty. The problem arises for a veteran who wants to use a VA loan in Tampa Florida. We have access to any large lender you can think of, and more you would never know existed, as well as our own bank funds, and none of them will lend with a VA loan to purchase a manufactured home in Tampa Florida. The VA itself says it is fine insuring a manufactured home. It is a classic case of "He Who Holds the Gold Makes the Rules" when buying a new manufactured home using a VA loan in Tampa Florida. We know that manufactured homes in a lot of cases are made better, are more energy efficient, and definitely offer more bang for your buck. So I ask the lenders "Where is the risk?".

Here is what I recommend at this point if you want to take advantage of your VA Loan in Tampa Florida

• Keep your search limited to Single Family Residences (SFR)
• If you found the manufactured home of your dreams you should be able to receive financing from an "in-house" finance company representing the manufactured home builder, or try a local bank. Having done many constructions loans during the boom I never ran into an "in house" lender that really cared for the consumer.
• An FHA loan (we can help with that) would be another option but require a small down payment unlike a VA loan in Tampa Florida. For whatever reason more banks are willing to secure loans under the FHA loan program.

As a way to protect yourself make sure your contract has a clause that will reimburse your deposit if your financing falls through. Most real estate contracts have this clause just make sure yours does too.

If you know of a fellow veteran who has used their eligibility to purchase their manufactured home PLEASE have them share. We are here to help one another.