Posted on: 07th Nov, 2008 02:01 pm
I have recently purchased and remodeled a mobile home in Phoenix az for my mother who is in her 80's. During renovation she has had serious health issues and we are trying to sell it for her. It is a very well built sound structure and I have qualified buyers but have been unable to find financing.
Hi ritaberkwitt!
Welcome to forums!
Mobiles homes built prior to 1976 do not qualify for mortgage because the lenders are concerned over the life expectancy and depreciation of the home when compared to the conventional homes. This is the main reason why you are not able to find financing for the house.
In case I think personal loans will be a better option. However, one should keep in mind that personal loans are available at a higher rate of interest.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Mobiles homes built prior to 1976 do not qualify for mortgage because the lenders are concerned over the life expectancy and depreciation of the home when compared to the conventional homes. This is the main reason why you are not able to find financing for the house.
In case I think personal loans will be a better option. However, one should keep in mind that personal loans are available at a higher rate of interest.
Feel free to ask if you have further queries.
Sussane