Mobile Home Loans
All in all, mobile home loans are fairly standard and simple. They don't require top rate credit scores, but they do require you to have certain criteria met. Although today's mobile homes look a lot like typical houses, their financing is still quite different. In the event that the home isn't mobile at all, and the owner also owns the land, it can be a much more mortgage-like loan, which means better financing options and tax benefits.
Key tips for when you want to get a mobile home loan:
- This is a really variable market so you need to shop around and compare your options. If you look carefully, you can find a lot of good deals.
- Never take the first loan or the loan you are offered from the mobile home community salesperson without comparing your options with a few different lenders. You just might find something better.
- Most mobile homes require 5% down and have a financing period of 15-30 years, depending on the terms that you choose. Just remember to check with lenders before you start planning your purchase.
- If the home qualifies as personal property, you need to make sure whether you are required to pay motor vehicle registration fees or other charges in your state.
Advice on finding the best mobile home loans:

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