Can I get a Home Loan for a Modular House?
Be pro active in obtaining loans on modular homes. Purchasing or not purchasing optional features can considerably increase or decrease the appraised value on modular homes. Flooring choices can be upgraded and downgraded, as well as built in appliances, fixtures and other aesthetics. Omitting relatively expensive items can greatly reduce the cost of modular homes without significantly reducing their values.
Obtaining a second appraisal might result in better numbers which should work in your favor as well. Selecting a lower down payment will mean borrowing more money. If you can raise your down payment you may get a better rate on your loan and chances of approval may be better.