typical financing probably won't work if your home needs that much repair. I have had some banks who do not resell their mortgages provide portfolio loans for properties that would not qualify for conventional financing. I am not sure who would be in your area, but I would check with the local banks.
The other option you can try is an FHA 203k loan, which is a rehab loan. Not many banks offer these, so I suggest you check out wells fargo or go to a full service mortgage broker like RMS. The caveat is that you cannot do the work yourself. It must be done by a professional contractor and completed within 6 months. This is the loan I recommend to most of the buyers who need financing for bank owned properties that need a lot of work to be livable.... more
The best thing to do is to talk directly with a mortgage broker as things in the mortgage business change daily . I do have access to names and phone numbers of loan offices who could help you.... more
Financing is different, and easier, if the mobile is on its own land than if it is on leased land in a park. The age of the trailer does make a difference and it can be difficult to get a loan for mobiles older than 20 years. However, if older than 20 years, you might take a land loan.
Two good local banks that finance mobile homes in the Kennebunk area are Bangor Savings Bank and Sanford Institution for Savings. Feel free to email me if you have more questions.... more