Mobile home financing is sometimes very hard to find, some buyers have less than perfect credit, (640 and under). Looking for "financing for mobile homes" single wide and double wide already on land. Some homes listed are manufactured double wide homes with permanant foundation, others are single wide mobile on land. These were previously occupied homes and some are in need of repair. I would like to find more options for the buyer with less than perfect credit, (640 and under). I have talked with a few companies and this seems hard to find in TN. Does anyone have suggestions? Realtors or Finance companies please reply!
2007-06-10 20:23:24 · 3 answers · asked by Busy Lady 2010 7 in Business & Finance ➔ Renting & Real Estate
Need financing for a used mobile home on land, first purchase not refinancing.
Thanks for all replys!
2007-06-10 20:32:10 · update #1
I can help!
msmith@premierloangroup.com
Marty
2007-06-11 01:52:05 · answer #1 · answered by Anonymous · 0⤊ 5⤋
Financing such as you are seeking is not only difficult in TN, but in the other 49 states as well. I just had a conversation with a lender yesterday relative to this subject, and he indicated he would be lucky to find a lender who would consider mobile home financing even at 50% LTV. Same goes for modular homes.
Lenders took a real beating in the last few years financing such properties and then having to foreclose them. The lenders learned quickly that the market value of such properties is lucky to stay at purchase price and not drop further.
2007-06-11 11:09:08 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Almost sure that you will find all financial solution at: loanhome.info-
RE Where can buyers go for financing on mobile homes on land in TN?
Mobile home financing is sometimes very hard to find, some buyers have less than perfect credit, (640 and under). Looking for "financing for mobile homes" single wide and double wide already on land. Some homes listed are manufactured double wide homes with permanant foundation, others are single wide mobile on land. These were previously occupied homes and some are in need of repair. I would like to find more options for the buyer with less than perfect credit, (640 and under). I have talked with a few companies and this seems hard to find in TN. Does anyone have suggestions? Realtors or Finance companies please reply!
2014-09-03 10:12:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋