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Stephanie
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 Posted: Wed Oct 07, 2009 10:08 am Post subject: Financing on a mobile home built in 1972 |
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My mother ownes a mobile home that she purchased in 2005 for $78,000. This price was for the home and the land that it sits on. She would like to get a loan on this home so she can consolidate bills and do some home improvements. We have struggled to find a lender on the home though because it is older then 1976. Her credit score is around 645 and she filed a bunkruptcy in 2005. Does anyone know of any lenders that will finance on a mobile home that was built in 1972? 
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 manoj_gopale
Joined: 16 Feb 2009
Posts: 481
0.49 Dollars($)
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| Posted: Wed Oct 07, 2009 2:34 pm Post subject: |
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Stephanie
If you are looking for home improvement then its pretty sure that it is going to be little difficult.
I think you should better take a loan on land and then it can be used for the renovation.
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Wed Oct 07, 2009 11:06 pm Post subject: |
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Hi Stephanie!
Welcome to forums!
Lenders would not be ready to give a loan to your mother as the mobile home is build prior to 1976. However, you can check out if your mother can get personal property loan for the mobile home. Such loans are available with the retailers who sell mobile homes. However, the interest rates could be high on such loans. To know more about mobile home loans, check out the given page:
http://www.mortgagefit.com/mobile-homeloan.html
Feel free to ask if you've further queries.
Sussane |
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