| Manufactured construction to perm lender
Trying to find a lender for the following scenario:
Construction to perm in Laramie, WY
Manufactured Home (used) built in 1980
She's self employed (a Realtor), and the best income doc's would be bank statements.
She already owns the home. The construction loan is to buy the land, move the home, lay and attach the foundation. attach all the utilities, put up a fence, etc.
Loan size would be around $130-135k
Appraised value is $155,000 We need to use appraised value- not acquisition cost.
LTV will be 85-90%
DTI with bank statement income is around 30%
FICO mid is 676
Discolures are almost all in. I've got signed disclosures and most of the doc's. I'm awaiting updated bank statements. Construction to be completed around 12/15.
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