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Loans against Mobile Homes?

I am planning to buy a Mobile Home as my budget is small but I would like to own a home as I am fed up of paying rent month after month. Does any one know about companies which provide loans against Mobile Homes? If yes then what are the options and is there any other relevant information which I should need? Thanks in advance!

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello Donald,

You may qualify for the Title I program insured by FHA, in order to purchase a mobile home. You may purchase the home along with the lot or either the home or the lot with this loan. The maximum loan amount is $48,600 for the mobile home only, $16,200 for the lot only and $64,800 for both the home and the lot. The loan amount will be granted according to your credit history and your ability to repay. But the home has to be used as your principal residence.

Like | Dislike | Share | Posted: Mon, 11/26/2007 - 04:51 | Post subject:

larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Donald,

Welcome to this forum.

There are quit a few options are available for you to get a mobile home loan. Most lenders does not approve loan against mobile home if the mobile home is without permanent foundation. You can think about government sponsored agencies like Freddie Mac and Fannie Mae for mobile home loan. You can also consider non-conforming loans or jumbo loans. Apart from these, you can go for VA loans.

Hope this will help you. Feel free to ask if you have further questions.


Like | Dislike | Share | Posted: Mon, 11/26/2007 - 05:34 | Post subject:

Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Donald,

The first thing to consider is whether your mobile home is affixed to a rented land and not your own. I say this, because if it's a rented land, then you won't [url= for a mortgage[/url] loan. A mobile home on a rented land is a personal property and hence you will be getting personal property loans from dealers who sell off such homes.

However, if the land is owned by you and all that you need to buy is just the mobile home, then you can get a mortgage on the home itself. But in case, you don't have any land but would like to own one, then you can seek a mortgage loan in order to finance both the land and the mobile home.

There are various mobile home financing options available for people having different income and credit profiles.

To start with, you can try out with some lenders in our community. All you need to do is just send in your Request for Mortgage quotes so that we can pass it on to the lenders and they can contact you if their profiles match with your requirements.

Good luck

Like | Dislike | Share | Posted: Mon, 11/26/2007 - 09:19 | Post subject:

diane.jsmith's picture
diane.jsmith | Joined: November 27, 2007 06:23 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

It is really a good idea to have your own home than paying the rent every month! I would recommend you to visit "" which would be able to dwell more on the subject as I found it quite useful when I needed detailed information about Private Mortgage Insurance. I am sure you will be benefited by the information the site provides. Happy Holidays!

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Like | Dislike | Share | Posted: Tue, 11/27/2007 - 06:24 | Post subject:

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