Borrower owns a manufactured home that is currently located in a mobile home park. Borrower wants to refinance loan on manufacture home that currently has no land on the loan. The borrower's plan is to move the manufacture home onto property that they own free and clear of any mortgage. The new loan will be secured with the land and manufactured home and the funds will be for the refinance of his current loan, moving costs, installing well and septic, and building basement. Should this loan be reported as Purchase, Refinance or Home Improvement? Any help would be appreciated.

Sounds like a refinance to me. Not really that problematic anymore, since refi now trumps home improvement.

I agree.

Thanks for the help . I do have another question if the borrower was purchasing the land would it change to a purchase or stay a refinance? I want to say it would still be a refinance.

Yes, it would still be a refinance. They wouldn't be buying a dwelling.

Thanks, I just needed some reassurance. It's been a long week for me already.