Financing in Hazlet>Question Details

Flipzip, Home Buyer in Hazlet, NJ

can you get a mortgage on a mobile home?

Asked by Flipzip, Hazlet, NJ Thu Aug 18, 2011

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Yes, you can. Well Fargo, some banks and even credit unions loan for mobile homes. Some require more of a down payment than others.
0 votes Thank Flag Link Thu Aug 18, 2011
There are some specialized lenders that'll make loans on mobile homes. If the home is in a park, check with the park manager for some suggestions. She/he probably will know of some. However, that's usually possible only on newer homes.

For older ones, look for owner financing. Or look for an investor to do what's called a "Lonnie Deal." The investor buys the property for cash, then sells it to you on terms. Essentially, the investor is also acting as a banker.

Hope that helps.
0 votes Thank Flag Link Thu Aug 18, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
You can but very few banks still due under FHA guidelines. If the mobile home is on its own land, hasn't been moved and built after 1979.
0 votes Thank Flag Link Thu Aug 18, 2011
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