For Investors, Builders, and Operators
Land-home package loans for real estate investors
Business-purpose financing to buy land, place a new manufactured home on it, and sell or rent the finished property. One loan can cover the parcel, the home, delivery and setup, and site work, subject to underwriting.
Loan Program Details
Requity Lending originates business-purpose loans secured by non-owner-occupied investment property. These are not consumer loans and are not for personal, family, or household use. All loans are subject to underwriting approval, and the costs financed, leverage, rate, and term are set deal by deal. A term sheet is not a commitment to lend.
Who It's For
Investor projects, not home mortgages
These are manufactured home construction loans for investors: short-term capital to create a finished, titled home on its own land, then exit. If you plan to live in the home, this is the wrong loan.
A fit if you are
- Investors, builders, and operators buying land and placing a new manufactured home on it
- Homes built to be sold to an end buyer or held as a rental
- Borrowing through an LLC or other business entity
- Non-owner-occupied projects only
Not a fit for
- Buying a home you or a family member will live in
- Consumer chattel (home-only) loans
- Financing a mobile home park or community (see our mobile home park loans)
- Modular or site-built homes (this program is for HUD-code manufactured homes)
How It Works
A typical land-home project
Most projects follow the same sequence from raw parcel to a home that can be sold or rented.
Tie up the parcel
Put a lot or acreage under contract and confirm that zoning allows a manufactured home, the minimum size or foundation rules, and that power, water, and sewer or septic are workable.
Order the home
Select a model from a dealer or manufacturer and get a written quote with the floor plan, section count, and what the dealer includes (delivery, set, trim-out, A/C, steps).
Prepare the site
Clearing, grading, driveway, well or water tap, septic or sewer tap, electric service, and the pad or foundation, all permitted locally before the home arrives.
Deliver and set
The home is transported, set on the foundation, anchored, and joined (for multi-section homes). Utilities are connected and skirting, decks, and steps are installed.
Final inspection
The local building department signs off and issues a certificate of occupancy or equivalent. Title work treats the home and land together as real property where state law allows.
Sell or rent
List the finished home for sale, or lease it and refinance into a long-term rental loan.
What Can Be Financed
Costs that may be financed, subject to underwriting
Financing manufactured home placement on land means paying for more than the home. We look at the full project budget. What we fund, and how much of it, is set in your term sheet.
Land
Purchase of the lot or acreage the home will sit on.
The home
Dealer or manufacturer price for the new manufactured home.
Delivery, set, and install
Transport, setup, anchoring, marriage line work on multi-section homes, and skirting.
Foundation
Piers, runners, or a permanent foundation system as required by the county or end-buyer financing.
Utilities
Well or water tap, septic or sewer tap, and electric service to the home.
Site work
Clearing, grading, driveway, drainage, permits, and local impact or tap fees.
Deal Package
What we need to review a deal
Send what you have. A complete package gets a faster, firmer answer, but you do not need every item to start the conversation.
Submit a Deal- Land purchase contract (or deed, if you already own the parcel)
- Dealer or manufacturer quote with model, size, and what is included
- Site work budget with contractor bids (utilities, foundation, driveway, clearing)
- Survey, plat, or parcel map showing access and setbacks
- Zoning confirmation that a manufactured home is allowed on the parcel
- Utility plan: well and septic feasibility or perc test, or public tap availability
- Exit plan with sales comps for the finished home, or a rent estimate if you plan to hold
- Your entity documents and a summary of prior projects
Property and Title
What to check before you buy the land
Most land-home problems start with the parcel or the paperwork, not the home. Requirements vary by state and county.
Zoning and land use
Many counties and towns restrict where manufactured homes can go, set minimum square footage or roof pitch, or require a permanent foundation. Confirm this before you close on the land.
HUD label and data plate
Manufactured homes are built to the federal HUD code. The red certification label on each section and the data plate inside the home identify it and matter for appraisal, title, and insurance.
Title and real property status
When a new home leaves the factory it has a certificate of origin, similar to a vehicle. Most states have a process to affix the home to the land and retire or surrender that title so the home and land are treated as one piece of real property. Rules vary by state, and the title company handles the filing.
Access, flood, and restrictions
Check for legal road access, delivery clearance for the home, flood zone status, easements, and any HOA or deed restrictions that prohibit manufactured homes.
Draws and Milestones
How funding follows the installation
Funds that are not needed at closing are released in stages as the project moves forward. The exact draw schedule, including how and when the dealer is paid, is set in your term sheet.
Land at closing
The parcel purchase funds at closing, along with any costs your term sheet schedules at close.
Home order and delivery
Payments to the dealer are tied to the order and delivery of the home, based on the dealer's invoice.
Site work and set
Site work and installation funds are released as each stage is completed and verified.
Completion
Remaining funds are released after final inspection and sign-off by the local building department.
Exit Strategy
Two ways out
Sell to an end buyer
Most buyers will use a mortgage, and their lender will typically require the home to be on a permanent foundation and titled with the land as real property. Plan the foundation and title work around your buyer's financing from day one, and use sales comps of similar manufactured homes on land, not site-built comps.
Rent and refinance
Lease the finished home and refinance into long-term financing sized on rent, such as a DSCR rental loan, subject to that program's guidelines for manufactured homes. Include a rent estimate in your submission if you plan to hold.
FAQ
Land-home package loan FAQ
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