Get $50K - $750K Manufactured Home Loan Lenders, Private Hard Money Investors in Bakersfield
Posted: Friday, August 4, 2017 12:53 PM
Get Loan against Manufactured Homes for Purchase, Refinance, Cash out in Bakersfield
1st, 2nd Position Mortgage
No Min Credit Score Required
Stated Income, No Tax Returns or W2
Up to 65% LTV (Loan to Value)*
Term from 6 Months to 30 Years*
Interest Rate Starting from 9%
Easy to Apply, Quick Approval & Get Fast Funding in 7 - 10 Days
Call / Text or Email - Steve - (951) 254-3712 or Visit www.vfindloans.com
Get Private Hard Money Loans Against all
Owner Occupied, Non-Owner Occupied Properties,
Residential or Commercial Real Estate
or Vacant Land in Bakersfield California
---- Property Types ----
SFR, Multi-family, Rental Property
Mixed use property, Apartments,
Office Buildings, Retail Strip,
Gas Stations, Auto Repair Shop
Senior Care Facility, Funeral Homes
Mini Storage, Manufactured Homes
Warehouse & Commercial Properties,
Vacant Land, Raw Land, Commercial Land
---- Loan Purpose ----
Purchase, Refinance, Cash out,
Business Debt Consolidation
Rehab, Home Improvements
Fix & Flip Loan for Investors,
Business Loan Purpose
or get loan for any Purpose.
Whether you have bad credit or No credit
we have loan program for every borrower.
We have stated income, stated assets, No doc Loan program.
Contact Us NOW for Free Consultation
Call / Text or Email - Steve - (951) 254-3712 or Visit www.vfindloans.com
A Private Hard Money Loan for manufactured homes is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued by Bakersfield private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans for mobile homes are used for projects lasting from a few months to a few years.
A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans because of the higher risk taken by the lender. Most hard money loans are used for projects lasting from a few months to a few years. Find Manufactured Home Loan Lenders.
Private money is a commonly used term in banking and finance. It refers to lending money to a company or individual by a private individual or organization. While banks are traditional sources of financing for real estate, and other purposes, private money is offered by individuals or organizations and may have non traditional qualifying guidelines. There are higher risks associated with private lending for both the lender and borrowers.
Manufactured housing (commonly known as mobile homes in the United States) is a type of prefabricated housing that is largely assembled in factories and then transported to sites of use. The definition of the term in the United States is regulated by federal law (Code of Federal Regulations, 24 CFR 3280): "Manufactured homes are built as dwelling units of at least 320 square feet (30 m2) in size with a permanent chassis to assure the initial and continued transportability of the home.
According to the Manufactured Housing Institute’s National Communities Council (MHINCC), manufactured homes are homes built entirely in the factory under a federal building code administered by the U.S. Department of Housing and Urban Development (HUD). The Federal Manufactured Homes Construction and Safety Standards (commonly known as the HUD Code) went into effect June 15, 1976. Manufactured homes may be single- or multi-section and are transported to the site and installed.
For financing purposes a manufactured home will always be considered a manufactured home. Financing is still available for manufactured homes on land, especially if it is on a foundation, the title has been removed and is classified as real property (not personal property).
The only Manufactured Homes that may be classified as real estate or "real property" are those which have a permanent foundation built to FHA standards. They must be considered a "permanent dwelling" or the home is considered personal property for tax purposes and is ineligible for mortgage.
Pursuant to Health & Safety Code Section 18551(a), the proper procedure to affix the manufactured home is for the owner to obtain a building permit to install the unit on a permanent foundation. The owner must provide the building department in the county where the manufactured home is located, with proof that he/she/they are the owner not only of the manufactured home but also the land that they intend to install the manufactured home on. There must be evidence that the manufactured home is either free of liens or that the lien holder consents to the installation. Proper approved plans according to HCD regulations or plans signed by a California licensed architect or engineer must be provided to the building department, who will then prepare a 433(A) and (B), after the appropriate fees are paid. The 433(B) is given to the county assessor so that they can change the manufactured home from being taxed as personal property to being taxed as part of the real property. The 433(A) is sent for recording by the building department, then a conformed copy, the certificate of occupancy, fees, all titles, certificates and plates or decals are sent to HCD, who then changes the title to reflect that the manufactured home is on a permanent foundation.
The 433(A) is entitled Notice of Manufactured Home (Mobile Home) or Commercial Coach, Installation on a Foundation System. When recorded with the county recorder and properly reflected on HCD’s title as on a permanent foundation, it effectively merges the manufactured home with the real property so that a lender may proceed with a foreclosure as they normally would do if it was a “stick built” home on real property.
Fresno, the county seat of Fresno County, is a city in the U.S. state of California. As of 2013, the city's population was 509,000 making it the fifth largest city in California, the largest inland city in California and the 34th largest in the nation. Fresno is in the center of the San Joaquin Valley and is the largest city in the Central Valley, which contains the San Joaquin Valley. It is approximately 200 miles (320 km) north of Los Angeles, and 170 miles (270 km) south of the state capital, Sacramento. Metropolitan Fresno has a population of 1,107,416. The name Fresno means 'ash tree' in Spanish, and an ash leaf is featured on the city's flag.
We also provide commercial private hard money loans in the cities of Clovis, Coalinga, Firebaugh, Fowler, Fresno, Huron, Kerman, Kingsburg, Mendota, Orange Cove, Parlier, Reedley, San Joaquin, Sanger, Selma and all Fresno County. Find Hard Money Lenders in Bakersfield.
Hard money lenders are lending companies, or individuals, offering a specialized type of collateral backed loan. Private Hard Money Lenders tend to lend short-term capital (also called bridge loans) that provide funding and or cash, based on the value of the collateral. Hard money lenders and Investors can and will utilize all types of collateral- cars, boats, land, airplanes, hard assets, paintings, etc. to complete the loan. Hard money lenders tend to focus on the value of the collateral and sometimes borrower's ability to repay, FICO score, debt to income balance; instead of based on their own personal income or other assets, as is common with traditional lenders. Hard money lenders typically charge much higher interest rates than banks because they fund deals that do not conform to bank standards such as verification of borrower's income, assets, or credit score.
Private Hard money lenders & Investors will offer a range of requirements on how much they will lend (loan to value), what types of real estate they will lend on (commercial, residential, multi-family, land) and minimum and maximum loan sizes. Hard money lenders that lend on residential property are licensed through their state regulatory agency.
Bakersfield is a city near the southern end of the San Joaquin Valley in Kern County, California. It is roughly equidistant between Fresno and Los Angeles, which are 110 mi (180 km) to the north and south, respectively. In the 2010 census, the city’s population was 347,483, making it the 9th largest city in California and the 52nd largest city in the United States. The city is also the county seat for Kern County, which encompasses the entire MSA and is the third largest county in California by area. The total Bakersfield inner urban area, which includes East Bakersfield and Rosedale, has a population of about 464,000.
Bakersfield is the focal point of the larger Bakersfield-Delano, CA Metropolitan Statistical Area, which is coextensive with Kern County. In 2010, it had a population of 839,631, making it the 62nd largest metropolitan area in United States.
For Free Consultation Please Call (951) 254-3712 or Visit us at vfindloans.com Hard Money Loans in Bakersfield
• Location: Bakersfield
• Post ID: 15981108 bakersfield