how to get a mobile home loan

August 6, 2010 – The FHA has a program that lets FHA loan applicants get financing (or refinancing) for the purchase of mobile homes, a developed lot for the mobile home, or the combination of the home and the lot. Like other FHA loan products, the mobile home must be considered the primary residence of the FHA borrower.

A Title I loan may be used for the purchase or refinancing of a manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination. The home must be used as the principal residence of the borrower. Manufactured Homes Placed on a Leased Lot

Have a Down Payment. Come up with a solid down payment. Purchasing a manufactured home is quite different in many ways from purchasing a typical home, as mobile homes depreciate in value, while the alternative tends to appreciate over time. As a result, lenders want to see a significant up-front down payment before handing out a loan,

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Mobile homes that don’t rest on a permanent foundation. Homes situated in a park or lease community. Sometimes it’s a bit harder to get a real estate loan on a single-wide, but persevere-you will find one. There is still chattel loans, personal loans, owner financing, or rent-to-own options.

Most banks won’t offer mortgages to buy mobile homes, so you’ll need to finance your mobile home with other payment options, such as a personal loan. Factors to consider when buying a mobile home

JCF Lending Group offers Manufactured & Mobile Home Financing Programs for New & Used homes located in mobile home parks, manufactured home communities and on private land where the land and the home will not be financed together The homes that we finance must be titled and will be your primary residence or vacation home.