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Company Loan Type APR Est. Pmt.

Personal loan on Mobile home

Posted on: 16th Dec, 2005 08:27 am
I am trying to find a personal loan using my Mobile home as collateral. Our Mobile home is paid off and we own it. Value is probably around 55,000.00. We are looking to try to get a 10,000.00 dollar loan for repairs and improvement the only problem is our credit is not well at all. Is there any hope for us. We need a new roof and new windows and other needed work.
Hi Wanda!

Welcome to forums!

You can take out a personal loan in order to make the required repair works. However, you should note that personal loans are available at a higher interest rate. Thus, you may have to pay a higher amount for that loan on a monthly basis.

Feel free to ask if you've further queries.

Sussane
Posted on: 11th May, 2011 10:21 pm
we would like to take a loan against our modular home that is paid off, we rent the lot it is on but the home is bought and paid for. what do we need to do? we would like between $10,000-$15,000 for home improvements we would like to do.
Posted on: 06th May, 2012 01:54 pm
Hi Dale,

You will have to contact the local lenders and apply for a modular home loan. The lender will check your financial situation and your credit scores and then let you know whether or not you will qualify for a loan.

Thanks,

Jerry
Posted on: 07th May, 2012 02:53 am
I was looking to see if there was any possiblity in finding a lender to purchase a mobile home using the home as security my credit is less then good at 580 I do have a steady verifiable income
Posted on: 25th May, 2012 12:12 am
Welcome Mal,

With a 580 score, it will be quite difficult for you to qualify for a loan. Nevertheless, you can still try out for a FHA loan. However, it is also true that most of the FHA lenders will require a credit score of around 620.
Posted on: 25th May, 2012 11:21 pm
We would like to get a loan, using our mobile home as collateral. We are coming out of a foreclosure. And we have bad credit. But have purchased and own a mobile home. The purchase price was $75,000. We then added new paint, carpeting, all appliances and home fixtures. Can you provide a list of lenders who might be able to assist us. We would like to get $10,000 to considate debts.
Posted on: 14th Aug, 2012 09:47 am
Welcome rv,

You will have to contact the local lenders and apply for a mortgage for that mobile home. The lender will check your credit and financial situation and let you know whether or not you will qualify for a loan.
Posted on: 15th Aug, 2012 01:39 am
I have 6,000 in payday loans to pay off or I will lose everything I own. I have a 1998 mobile home I can use as colatteral. It isset up in a mobile home community where I have lived for eight years. My credit rating is below 600. My income is social security and pension @ 2160 a month. Is there a way to get a personal loan so I can resume living.
Posted on: 21st Dec, 2012 02:25 pm
Welcome jerry,

It will be difficult for you to get a mortgage using your mobile home as a collateral as your credit scores are low. In such a situation, it will be better if you could apply for a personal loan with the local lenders. It should also be noted here that such loans are available at a high interest rate.
Posted on: 23rd Dec, 2012 08:41 pm
I'm looking for a 15000 loan own our mobile home is valued at about 34000 n have 6 yrs left on the 1/4 acre we live on my score is 619 do u know any one that would be able to help. Also my income is 38000yr looking for bout 450-500 monthly payments.. Thank you
Posted on: 11th May, 2013 12:53 pm
Hi Norberto,

With a credit score of 619, you won't be able to qualify for a conventional mortgage. You will have to contact the FHA lenders and apply for a mortgage. If you meet all the required criteria of the FHA lender, you will be able to get a loan.

Thanks
Posted on: 12th May, 2013 09:27 pm
My wife owns a 1996 Fleetwood 28'x76' double wide on a leased lot. We are trying to obtain a $10,000 loan to make adequate repairs to the roof, carpeting, decks, and walkways. We live in Pennsylvania, and I have steady work, with one full-time and one part-time 30hr/week job. However, my credit score is around 600 and my wife has a disability. We've been unsuccessful so far in obtaining a loan. Is there anything we can do to better our chances of securing a loan, such as using the title as collateral?
Posted on: 25th Jul, 2013 09:13 pm
Hi Gregory,

You will have to improve your credit scores in order to qualify for a mortgage. You can check out the given page in order to know some steps to improve your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html
Posted on: 25th Jul, 2013 10:17 pm
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