mobile home financing

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Mon Jul 09, 2007 9:54 am

I first posted when I was planning on building a wood basement and putting my used 87 Chief on it. THat is happening. However, I decided that I wanted to borrow some money to do a bit more than planned and in checking around found ojut that singel wides are very hard to find mortgages on! Is this true? Am I going to have a helluva a time selling this property down the road even though I will have put mucho dollars into it? It sits on 40 acres. I found that the local banks will do financing but that's it - no access for first time home buyers or secondary mortgages like through these lending tree /Ditech types. Wow!

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Mon Jul 09, 2007 11:58 am


Personally I would not want to go thru a finance company such as Greentree, Ditech, Lending tree...a bank is where I prefer to do business.

The difference between success and failure is who gives up first!

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Mon Jul 09, 2007 12:10 pm

If you have property and putting a home on a basement, banks tend to look much more favorabily on that than say a home sitting on blocks in a rented lot.

Here's an idea. Look in the real estate section in the newspaper. Figure out which realtors have mobile homes for sale (not all realtors like to sell mobile homes if they don't have too). Then call that realtor and ask what sources they have for mobile home financing.

Around here we have 3 banks who are known to lend on mobile homes. So they are out there!

You can't fail if you don't try!