If you’re planning to build a home on the land, you’ll likely need a construction loan. These are short-term loans that cover the cost of building. Once construction is complete, you can often convert it into a traditional mortgage.
In Maine, lenders such as Northeastern Housing Services specialize in construction financing for manufactured homes, offering terms up to 30 years and no PMI requirements.
Don’t hesitate to get in touch with us today to discuss further!