Is it true that you can finance a doublewide mobile home for 30 years like a house?

Answer 1

yes, cause it is like a house

Answer 2

Yes. It all depends on the lender. the big this is though, it needs to be viewed as real property by the tax office at your county. Generally they want to see the wheels and axles removed and the trail fixed to a foundation. Often the mobile home is considered personal property like a car and the land is seperate as real property. Call your county to see how the home is considered and what needs done to make it real property. Watch out, this could affect your property taxes.

Answer 3

Much depends on where the property is located. As an earlier poster noted, California double wides tend to improve in value. I live in Wisconsin, and it is extremely difficult to gain conventional financing for a double wide, even if on a foundation. Here, they tend to go down in value rather than increase.

Lenders watch their markets and offer financing accordingly.

Answer 4

Yes, but why would you want to. Talk about throwing your money away. Unless you are in a retirement community you will be lucky to even recoup half of your money. It is really hard to get financing on a used mobile home.

Answer 5

Only on an FHA loan.

Other conventional loan programs will, but for only 20 years.

Other loan programs won't do it for a decent rate because trailers depreciate like a car.

The only value is in the land.

Answer 6

Yes, especially if its a land/home package. The better made ones will last 50 years or more.

Answer 7

yes it is true. Although in some states they lose value - here in California they increase. This is in answer to the gentleman that said that you would be throwing your money away.

Answer 8

yes i kno bc my friend lives in a double wide mobile and shes lived for like EVER

Answer 9

Of course you can. It is a dwelling to live in, isn't it?

Answer 10

YES!