Refinancing trailer house

[Hunter Wilburn]

I was told that some lenders may not refinance trailers house due to the quick depreciation. I’m planning on moving a trailer house onto an acre of land and refinancing it for a cash payout. Would this be a bad idea?

[Bill F.]

@Hunter Wilburn

first things first, by trailer house I assume you mean mobile home?  Mobile homes are considered chattel and not real estate. So the only type of loan you can get on the mobile home is similar to a car loan. 

Now you can tie the mobile home to the land by doing somethings, like cutting of the hitch and other things required by your state's laws. Then the mobile home would be considered an improvement on the land and you could get an loan on the land.