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If you own the land what types of loans are there?

Posted on: 17th Nov, 2006 09:23 am
I own my own land valued at $69,000 and want to purchase a double wide manufactured home to place on the land. What type of loans and terms are available for this?
Hi Jenfall,

Since you own the land on which the manufactured or mobile home will be placed, you can look out for mortgage loans at suitable rates and terms.

The different types of mortgages available for financing a home are available for the purchase of manufactured homes. You can check out with our section on loan programs for an overview of the Popular loan programs available in the market.

Usually the loan term varies from 15 to 30 years. And, if you keep both the land and the home as the security for the loan, you will be getting comparatively low rates as well. One more thing, prior to applying a home loan, verify if you satisfy the criteria for a mobile home mortgage loan. You can check out with the eligibility criteria from our section on Mobile Home Loan.

Thanks,

Caron.
Posted on: 19th Nov, 2006 09:01 pm
It is easy to get approvals for personal property loans as they allow for high debt to income ratio.
Posted on: 20th Nov, 2006 03:54 am
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