2006-06-07 06:46:19 · 4 answers · asked by Anonymous in Home & Garden ➔ Other - Home & Garden
yes, I got approved for a mobile home when my credit wasn't quite where it needed to be to get good financing for a house.I've regreted it since.Mobile homes are hard to sale if they aren't new.[because of financing]I really wanted a house but the house I was renting was falling apart and I needed to move.I had lived there 2 years.When you go to apply for financing they want you to reside in the same place for at least 2 years.So I needed to move but if I rented again I would have to wait 2 years.So I bought a single wide mobile home.It was very nice but I paid too much for it.I waited 3 years then started looking for a house.I cannot sale my mobile home unless some one has cash for it.It is not worth what I owe be cause it depreciates like a car. The only good thing about it was that most financing places don't consider single wide homes as a first home.So I got first time buyers program on my home now.I still have my mobile home, I have it rented.I make no money off it,I have to pay for insurance[which is higher when it is a rental] and taxes.I also worry about it getting damaged and repairs.So my point is try to get financed for a house.Even a home that is older and fixed up would be the better choice.I now live in an older home that I have up dated and almost have what I was looking for in a home all along. I'm just a lanlord too[unfortunately.]
2006-06-07 07:20:56 · answer #1 · answered by chays 3 · 1⤊ 0⤋
Normally, yes... it is easier to get a loan on a mobile home, especially if you use the lenders provided by the dealership....however... it's going also going to cost you a lot more, lol.
I would suggest you go talk to your bank, and see how much money they would be willing to loan you. Do this before you even pick out a home, and you will already have an idea of what price range of homes you can afford
2006-06-07 07:10:47 · answer #2 · answered by thewrangler_sw 7 · 0⤊ 0⤋
purchase used. Watch the newspaper. a lot of human beings redecorate and get new home equipment and sell their previous ones for next to no longer something. while you're having credit issues, it is the main suitable thank you to bypass.
2016-10-30 08:57:04 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Maybe it is, or maybe it isn't, but it's definately easier to evade the bailiffs if you've got a mobile home.
2006-06-07 06:50:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋