Property Q&A in Santa Cruz>Question Details

Jenn, Home Buyer in Santa Cruz, CA

I was wondering, right now how hard is it to get seller financing for a mobile home?

Asked by Jenn, Santa Cruz, CA Sun Mar 22, 2009

When my mom sold her mobile she did this and I do not think I can get qualified for a loan on my own due to limited credit.

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Hi Jenn, It's not hard if the seller can afford it, and it makes sense.
Hi Erica
0 votes Thank Flag Link Sun Mar 22, 2009
Oops. Sorry Jenn-
When I read your question I missed the "seller" part. I thought you were asking about getting financing in general on a mobile home. As Sandy mentioned it would depend on if the seller had a loan or owned the mobile home outright. We are seeing more seller financing in this market because sellers have to be more creative in getting their homes sold.
0 votes Thank Flag Link Sun Mar 22, 2009
Hi Jenn-

Erica Pittman-Gaynor of Keller Williams here. It is a bit more difficult than getting a loan for a condo or home but can most definitely be done. I just happen to have a mobile home listing and had a buyer making an offer. We recently went through the pre-qual process as well as the County First Time Home Buyer Assistance Program. It takes some time and you have to know who to talk to. Because of my recent activity I have a really good relationship with one of the few Mobile Home Lenders in town as well as the fellow at the County. If you'd like some help getting in to meet with these people don't hesitate to let me know.

Hope this helps, have a great day.
0 votes Thank Flag Link Sun Mar 22, 2009
Jenn, It is possible to get seller financing if the seller doesn't have a loan? There are not that many people that own their home with no mortgage. You can get a loan but look for a home that is newer than 1976. Also consider a condo if you can because the prices are under $300,000 in some cases and the interest rates are so low now you may qualify. You can also look at rent to own situations. I would be happy to help you if you can tell me more about your situation.
0 votes Thank Flag Link Sun Mar 22, 2009
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