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Thread: Loan for mobile home?

  1. #1
    Bolties
    So I had no idea that NOBODY seems to do "single wide" mobile home loans anymore. This is crazy. I even offered to put down 25% and the best they come up with is like 10% interest! What a rip-off I have talked to like 30 banks. They claim that since it is a secondary/ vacation home they kill you on interest. Help please.....

  2. #2
    Mandelon
    Refi the first on your house and use that $$$??

  3. #3
    Bolties
    Refi the first on your house and use that $$$??
    Yeah I thought about it but my rate on my house is soooo low that I would regret it later. Any other options??

  4. #4
    HM
    Refi the first on your house and use that $$$??
    This is your best option.
    2nd Option:
    10% is a DEAL on a single wide especially with only 25% down.

  5. #5
    Mandelon
    I thought Fannie did those loans, as long as you were on a foundation. If you are just on jacks and skirts, then as you know its tougher.
    I wonder about a bank or lender from somewhere further east, that does more mobile homes...
    Maybe call a mobile home sales center and see who their customers use.

  6. #6
    HM
    Yeah I thought about it but my rate on my house is soooo low that I would regret it later. Any other options??
    Closed end 2nd or HELOC on your current so you don't have to mess with the first. I just did a 25 year closed end 2nd Interest only at 7.5%.

  7. #7
    Todd969
    where is it located? I may be able to help. What year is it?

  8. #8
    Bolties
    Closed end 2nd or HELOC on your current so you don't have to mess with the first. I just did a 25 year closed end 2nd Interest only at 7.5%.
    May I ask which bank?

  9. #9
    Bolties
    where is it located? I may be able to help. What year is it?
    Havasu RV resort, Lake Havasu, 2004, and the purchase includes the land.

  10. #10
    essexjet
    I thought Fannie did those loans, as long as you were on a foundation. If you are just on jacks and skirts, then as you know its tougher.
    I wonder about a bank or lender from somewhere further east, that does more mobile homes...
    Maybe call a mobile home sales center and see who their customers use.
    Also if you own the land its on or not has alot to do with it. Holy Moly has the best answer, the closed end second will give you the lowest rate.

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