Updated over 9 years ago on . Most recent reply

can you get an ARV for mobile homes/manufactured homes
My name is Patrick and I live in Baltimore Maryland and find mobile homes cheap and rents high, I was wondering what kind of loan I can get to buy these mobile homes, like do I need to get a car loan or is there some other type of loan i could get. as well as a loan how can i find out an ARV or something of the likes of an ARV to get a good value of the mobile home?
Any and all help is greatly appreciated! thankyou
Most Popular Reply

the most popular bank I use 21st Mortgage and require 20% down for their conventional loan. You can get an FHA loan but the home has to have a foundation. For value you can check the NADA (I never use it) or go on craigslist or mhvillage to see what they are selling for. If you get into mobile home investing be prepared to owner finance. Most of your clients won't have the cash or credit to get financing.