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
MVP'08
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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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