I would certainly investigate any offers of private financing but make sure you know exactly what you're getting into and have a trusted friend look over the documents. My guess is they will want to have a lien against the whole package (land and home) so your guy carrying the note on the mobile will have to be paid off so this private investor would have to pay the $20K + the mobile home balance. Depending on the amount you would borrow, you might be asked to pay an interest rate of 8-10% but it could be worth it. Make sure you can pay off this private loan early in case you are able to secure other financing after you do this deal but they might hit you up with an early payoff penalty.
Lots of things to think about but I wish you the best!!!
Russell Benson, REALTOR®
Prudential Alliance Realty
San antonio tx
Hope this helps,
Josh Barnett, Realtor
The only thing you can do is ask the seller to finance that also or find some land where the seller will finance with a small down payment: