Mobile homes financing

6 Replies

@Albert Hunter

Try community banks near the park. If you are still running into problems write a three page report showing why MHP's are such a good investment. Include things like building new ones are severely restricted, yields are much greater, management is much easier, etc. 

Can you share the area/state you're looking in?  Lenders aren't always licensed to lend in all 50 states, especially for mobile homes, so it's hard to suggest any without that knowledge. 

@Albert Hunter I used to work at a bank and inquired about this. At that time I learned that a lot of banks don't want to finance a mobile home that is more than 10 years old, and many times they only feel comfortable if it comes with some land so that they can use that as collateral. Some banks and credit unions will do it though. A quick google search led me to cascade loans, you might try them. Also, if you are looking for a mobile home to put on some land that you already have, most mobile home dealers will finance your purchase.