Looking to buy mobile home as first-time homebuyer

4 Replies

Is there such thing as mobile home financing? I'd love to purchase a mobile / manufactured home but I don't have the money to pay all cash up front.

If anyone knows of any financing programs for mobile homes with the lowest interest rates, please do let me know. I'm located in the East Bay Area of California.

Thanks in advance!

@Christian Paul

Your profile says 'new to the industry'. You definitely can buy on payments. Several ways to do that.

If the mobile home is new enough, you can finance it through a traditional company, like 21st Mortgage and others. Just Google 'mobile home financing' and you'll see several.

OR a cheaper way to go.....

Ask the seller if they could take some money down and payments for awhile. Unlimited ways to do this. Rent to own, lease option, etc.

Attend a local REIA (Real Estate Investor Association) meeting in your area. They're everywhere. Introduce yourself and ask for someone to assist with paperwork for CA in order to do the deal. CA has some specific paperwork.

Have fun!

I used to live in Alameda and considered buying a mobile home myself. Despite the stigma I think it makes a lot of sense to buy one in California. They're a lot cheaper and easier to maintain than a traditional home. And I assume they handle earthquakes better since they are usually not directly attached to the ground.

There are many companies out there that specialize in financing mobile homes. I did a google search for "California mobile home financing" and this was the first one that popped up.


Hi all,

It sounds like you will be purchasing this mobile home as your primary residence. As an investor I am a big fan of not using banks or conventional financing to purchase properties. However, with that said if you will be living in this home for the next 10+ years a bank loan with favorable terms will definitely get you into the home.

We have had decent success by approaching local credit unions in and around the area. You may have to go to a dozen or more credit unions or banks to find one that will land on a mobile home inside of a mobile home community, however they usually have the best rates we found. Don't stop until you found a credit union that will help.

In addition there are websites and nationwide companies suggested by Bill and Fred.

I hope this helps and points you in the right direction. Thanks for the shout out Brian.

Talk soon,
John Fedro