Are there mobile home/land loans available for no money down?

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Icon Mini Profile leahsbizworld67





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Post Posted: Sun Oct 12, 2008 8:12 pm    Post subject: Are there mobile home/land loans available for no money down
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Can't you get a personal loan for manufactured home? Is it possible to do that with land, too?
Icon Mini Profile smithsussane
smith.sussane




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Post Posted: Sun Oct 12, 2008 10:08 pm    Post subject:
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Hi leahsbizworld!

Welcome to Forums!

You can get a personal loan for a mobile home but it is not available for a land. As far as no-down payments or low down payments are concerned, the lender will have the full discretion. It depends on the lender whether he will give it to you or not.

However, you should note that personal loans will have a higher interest rate than mortgage. You should always try for a mortgage if you feel you are comfortable with it.

Feel free to ask if you have further queries.

Sussane
Icon Mini Profile Caron
Caron
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Post Posted: Mon Oct 13, 2008 5:24 am    Post subject: RE: mobile home personal property loans
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Hi leahsbizworld,

You can surely get personal property mobile home loans. But it is offered mostly for mobile/manufactured homes which are placed on rented lot or mobile home park. In case you'd like to use both the land and mobile home as collateral, you'd have to go for a mortgage loan. To get a better idea of the types of mobile home loans , refer to the information available on this topic.

Good luck

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