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Old 08-13-2019, 05:47 AM
 
2,771 posts, read 4,532,295 times
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Are “Park Models” considered manufactured homes or RV’s for loan purposes?
Thanks
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Old 08-13-2019, 03:14 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,724 posts, read 58,067,115 times
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Seems it will require RV loan... (certainly if set on wheels rather than foundation,)
Credit union may be best option.
Too bad Park Models are about 5x the cost of building from scratch.

Consider a 'used PM' with owner financing.

How to finance a Park Model Home...
https://www.google.com/search?rlz=1C...&bih=561&dpr=1

https://www.resortparkmodelsales.com...alculator.html

I run into problems financing my Barndominiums during construction... so I wait until they are complete. Then... no problem for bank / credit union.
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Old 08-13-2019, 07:29 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,111,286 times
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Quote:
Originally Posted by StealthRabbit View Post
I run into problems financing my Barndominiums during construction... so I wait until they are complete. Then... no problem for bank / credit union.
What is a bardominium?
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Old 08-13-2019, 07:35 PM
 
Location: Wasilla, AK
7,448 posts, read 7,590,182 times
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Quote:
Originally Posted by blueherons View Post
What is a bardominium?
Sounds like an old barn divvied up into condos.
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Old 08-14-2019, 01:03 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,724 posts, read 58,067,115 times
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Shop with living qtrs.

Works well for RV people and when building a new home on site, future apartment for boomerang kids or parents, guests, or future caregivers or yourself if you rent out the 'big house'. And nice play area for kids or dad. Shop with apartment can also be beneficial to low taxes. They can be completed in less than 60 days. Far more practical than a 'tiny house' (for people who wrench.)
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Old 08-15-2019, 02:30 PM
 
Location: Florida
7,778 posts, read 6,390,372 times
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I have seen many park models that lived in RV parks on a permanent basis, not the same as a MHP. In every case there were still many RVs there too.
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