Mobile homes generally go down in value, most traditional homes do not.
I would not say to buy a mobile home, unless you are also buying the land on which it sits.
If you are talking about a manufactured home, and are using the "mobile" home term for it, the manufactured home can be considered a "traditional home" if it is placed on a foundation, and follows the law for NY or what ever state you live in.
Agents! Get the facts, check the web site http://www.tdhca.state.tx
Hope this helps.
Elena Penso Quiroz, ABR, SFR
CHAMPIONS REAL ESTATE GROUP
Deborah Miller, Real Estate Broker
Coldwell Banker HPW
There are mobile home trailers that have AC/DC power, bottled LP tanks and are usually cited in parks. These are bascially personal property financed with chattel mortgages.
Then there are manufactured homes - delivered on a chassis but usually "double-wide" or "triple-wide" with no DC power and are designed to be permanently affixed to a site. You can obtain FHA and other mortgages for these with slightly higher rates and some restrictions.
Modular homes are financed like stick-built homes
You'll need a construction loan if the home is not already on the foundation.
If you need help e-mail me and I'll look up a colleague who does these sort of loans. I used to finance these types of property but no longer can do so.
Be sure to ask your bank or lender for methods.
Prudential Gary Greene, Realtors
Pearland, Friendswood, Clear Lake
You are either on owned land or in a rental park.
All mobile home financing is different and very different than a traditional home.
The age of the home, single, double, etc make a difference.
The down required and interest are greater.
It is best to talk with a mobile home lender but they are going to need to know the details of the home, location, etc. before rendering a decision on your cost.
If you are in a lease park you have to qualify for the park along with the mortgage.