This came from a loan officer that asked me about this. I told her that my first thought would be not reportable since it's the land that they are buying, but then I wondered if after moving the home and setting it up, if this would be considered home improvement. I may just be overthinking this, but I wanted to see what your thoughts are......
We have an application for a loan to purchase land and then move a home, which is being given to the applicant onto, and setup the home. Is this considered HMDA? The total loan amount request is $30,000 – the purchase price of the land is only $2,500 – the remainder will be used to move the home and set it up.