Home Buying in Long Beach>Question Details

Irishsk8ergi…, Renter in Signal Hill, CA

Am trying to find a lender for a mobile home in a park in long beach. The Lender am working with now does not do financing for those help...

Asked by Irishsk8ergirl, Signal Hill, CA Mon Dec 17, 2012

And don't want to run husbands credit again I have all paper work needed excluding credit scores...

Help the community by answering this question:


Some folks prefer manufactured homes over condos because it gives them a little space, a yard, carport and storage shed and they don't have to hear their neighbor flushing the toilet. So if it's a Manufactured Home you desire I'm here to point you in the right direction. I don't service your area but I know plenty of reliable Manufactured Home dealers and real estate brokers who would be happy to help you in your search.

FYI, If the home was built after June 15, 1976 it's not a "Mobile Home". It's a "Manufactured home". If the Manufactured Home is in a resident owned park there are fully amortized 30 year loans available. You can contact me anytime and I would be happy to refer you to a competitive and reliable lender.

If it's not in a resident owned community i.e. a condo conversion, sub division or Planned Unit Development (PUD) or on a privately owned parcel but instead in a rent/lease park/community it is more difficult to secure financing and but it is out there.

You just have to be prepared to put down a larger down payment and would be paying a higher interest rate for a shorter period of time. However, there are lenders that will provide chattel loans for up to 20 years. Again you can contact me and I will b happy to refer you to someone.

My cell phone is 760 815-6977 and my email is onthelevel@cox.net. Hope you had a very Merry Christmas and do have a Happy, Healthy and Prosperous New Year.
1 vote Thank Flag Link Tue Dec 25, 2012
Whenever you work with a new lender, you will always need to have credit run again. You can't just provide them with your credit scores and get the loan. You don't need to have your credit checked immediately, you can talk to a loan officer about all other aspects of qualifying, and then when you and they are pretty confident everything else sounds like it would qualify, then you could have the credit checked. You can even provide them with a copy of your credit report for them to analyze before they run their own credit report on you. I would suggest you get a copy of the credit report from your current lender and provide new prospective lenders with that report, as it is in a "tri-merge" format (all 3 credit reporting agencies data are combined into one report) which is what mortgage lenders need in order to analyze your credit.

When you are buying a mobile home in a park, and the land isn't included, that is called a "land lease" or a "chattel mortgage" and very few lenders will finance those types of homes. Like Ana mentioned, First Pacific Financial will finance these types of properties. Their website is http://firstpacificloans.com

21st Mortgage Corporation will also finance them, website is https://www.21stmortgage.com/web/21stSite.nsf/options?OpenForm (it looks odd, but that is their actual website page with links to their various loan programs, where you can find their lending guidelines)

JCF Lending Group does as well, website is http://www.chattelmortgage.net/ (lists a lot of their lending guidelines on that page)

Land/Home Financial does too, website is https://www.land-home.net/

Hope one of them can help you with your financing.

Shane Milne | Lending in all 50 states | NMLS #81195
1 vote Thank Flag Link Mon Dec 17, 2012
Is the home chattel or real property. As Shane has pointed out there is a differecne. Hence a big difference in loan types and availability. Also was the home built before June 15, 1976?
0 votes Thank Flag Link Thu Dec 20, 2012
Chattel, built 2004
Flag Thu Dec 20, 2012
I do have his credit report typo
0 votes Thank Flag Link Mon Dec 17, 2012
First Pacific Financial they only do mobile homes loans 800-460-0019
Ana Quiroz Prudential California Realty 310-803-7458
0 votes Thank Flag Link Mon Dec 17, 2012
Thank u I called first pacific
Flag Thu Dec 20, 2012
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