mobile home financing

Whether it's NASCAR or your family vacation, talk about anything here!

Moderators: Greg, Mark, JD

Locked
lbair1

Mon Jul 09, 2007 9:54 am

Well,
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!
Linda


User avatar
Yanita
Moderator
Posts: 3369
Joined: Sat Feb 17, 2007 10:16 pm
Location: Eastern N. Carolina

Mon Jul 09, 2007 11:58 am

Hi,

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.

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

User avatar
Mark
Site Admin
Posts: 742
Joined: Sat Feb 17, 2007 4:23 pm
Location: Aberdeen, SD
Contact:

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!

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

Locked