Forgotten Your Password?

Need to Register?

Question Icon

Considering moving my inherited home to a new location, what loan should i use?

Loan, heloc or refinance? by benjamin_benny_ti... from Rapids City, Illinois. Sep 13th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

If you looking to MOVE your home, then that's more of a construction loan... If there is a loan on the property now, it's unlike you will be able to move it at all.. this is assuming it's a single family home.. if your talking about a manufactured home or mobile home, then I guess you could move it, but you would need permission from your lender if there's a loan on it.. if it's paid for, and your looking to move a MFH to a different location, then you could get a loan for that but you would need to deal with someone who lends on MFH.. most lenders will not allow financing on a home that has already been architecturally attached to real property. You get one shot at moving it, which would have been from the factory to it's present location, so you might not be able to finance a 2nd move for the same MFH.. because your details of your scenario are so limited, it's hard for me to know for sure if I've answer your question properly.... 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. 480-287-5714 WilliamAcres.com

Sep 13th 2013
1
0
Scott Weinstein (Mymortgageguyscott)
#86 ranked lender in Illinois - 37 contributions

Hi there,I honestly do not know anything about physically moving a home, but I'm going to assume that it is NOT a mobile home. In that case, if there is an existing mortgage on the home, I would imagine you'd have difficulty getting approval to having it moved. If there is not a mortgage, I am certain that you would not be able to get a conforming mortgage for this purpose. Best bet is to contact your local bank. Good luck.Scott

Sep 13th 2013
0
0
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

A loan on a home you own is considered a refinance, even if there is no loan on the property now.

Sep 13th 2013
0
0
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Not to clear on what you are asking here...????

Sep 13th 2013
0
0
Subscribe to our news feed.