Mortgages on pre-1976 mobile homes on owned land?

Asked by Dawn Owens, 98604 Tue Jul 8, 2014

Hi, I'm looking at several parks in your area (Madrid Manor on 1401 E El Norte, the complex at 525 W El Norte, and also the one at 955 Howard Ave); these are the ones I've found so far with the least expensive HOA and are land-owned. We have guaranteed income of $2600 a month SS/pension but will have little down. Any hope here? Not fussy about how it looks inside or out, but not decrepit would be nice...

Thanks to all the nice people who give out advice for free here :)

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Teri Andrews…, Agent, Auburn, CA
Thu Jul 10, 2014
For owned land with a older mobile on it one lender suggested a land loan (mobile at no value). If located in a registered mobile home park you may be able to get a loan, try First Pacific Mobile Home loans,
1 vote
Sinead McAll…, Agent, Oceanside, CA
Thu Jul 10, 2014
Hi Dawn,
Financing is a total pain in pre 1976 mobile homes. I would recommend looking in Oceana in Oceanside, which are some really nice 55 condos that you can get financing on. The price point is similar to the parks you are looking in, although the HOA fees are a bit more approx. 300, but includes cable and loads of amenities. Feel free to contact me directly and I can send you some more info.
1 vote
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