How come I have to use a Fiance company and 7.25% for a mobile home...don't banks lend for this type anymore?

Asked by Maggiecoz617, West Bridgewater, MA Fri Sep 16, 2011

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Sally Grenier, Agent, Boulder, CO
Fri Sep 16, 2011
Mobile homes are basically considered the same as a car or truck. Agents, please correct me if I'm wrong, but you can't record a deed on a mobile home, right?
1 vote
Heath Coker, Agent, Falmouth, MA
Fri Oct 7, 2011
I hope you got your question answered. My understanding is that the mobile home is the only thing that is owned. The land it is on is actually leased and not owned. So, the only thing to borrow on is the structure of the mobile home, and thus, it is like a car loan.
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