is a mobile home mortgage the same as an RV loan?

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I thought of a mobile home, but I heard that a mobile home mortgage is the same as a car loan. I found a motor home to 115,000 would qualify for a mortgage, because they have a very large amount?
Is it easier to get a loan for a mobile trailer that obtaining a mortgage for a home? I know getting a loan depends on many factors besides the type of housing. But for all intensive purposes, I would have less critical parameters in March meet when applying for a mobile trailer as single-family mortgage loans? Not

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9 Comments
  1. Reply
    torklugnutz
    January 26, 2011 at 6:53 pm

    RV loans are car loans. A mobile home qualifies for a mortgage, which means lower interest rates and much longer terms of financing (30 years vs. 5 years)

  2. Reply
    Molly
    January 26, 2011 at 7:28 pm

    No matter what the price of a mobile home, you will never get a mortgage. A mobile home is personal property and will be sold with a bill of sale, not a deed like a home. I don’t know what area you live in but you might be able to get a nice home for $ 115,000. You might want to call a Realtor to see what is in your price range.

  3. Reply
    teenriodoll
    January 26, 2011 at 7:58 pm

    A mobile home has axles and wheels and can be moved but is designed to be set on the ground and lived in. Usually a bank will lend money and you can get more money if you also own the land underneath the mobile home. This makes it real estate because the home is on a plot of land. The interest rates for mobile homes are higher than for stick built homes but do vary depending on your credit situation and credit scores.

    A rv or recreation vehicle is a drivable vehicle that is licensed with the department of motor vehicles and more like a van or bus. You can sleep in RV’s but they are not considered permanent housing.

    I hope this helps

  4. Reply
    Beverly S
    January 26, 2011 at 8:14 pm

    It is harder to get a loan for a manufactured home than a regular loan. These loans tend to go into foreclosure more often & most lenders are not even doing them anymore.

  5. Reply
    wizjp
    January 26, 2011 at 8:43 pm

    Not really. Only push is the smaller amount financed and all the screwy conditions most lenders have about affixing it to a foundation, removing axles and title to real property and DMV title surrendered make it a big pain.

  6. Reply
    You Asked... I Answered
    January 26, 2011 at 9:25 pm

    It is much harder to get a loan for a manufactured home than a regular house. You can open the phone book and contact banks in your area. Just ask for the mortgage department and ask if they will do manufactured homes… it can’t hurt, but I suspect it will be extremely hard to find someone.

    Now, the above is assuming the home is already on land. IF you have land and are looking to buy a manufactured house from a dealer then they should have companies that they use for financing.

  7. Reply
    Ryan M
    January 26, 2011 at 9:35 pm

    It is harder for a mobile home since the value of those DEPRECIATE as where the value of a home APPRECIATES. As time goes on, the value of the mobile home decreases, thus making it riskier for the bank.

  8. Reply
    Debdeb
    January 26, 2011 at 10:03 pm

    If you buy a mobile home from a dealer, your best bet (if you can’t pay cash) is to get your loan from him.

    Banks and other lenders really don’t like Mo-Hos. There are tons of requirements based on size, age, how they’re attached, personal or real property. My company doesn’t do them except on reverse mortgages. When they stopped them about 12 years ago, I swear you could hear a cheer from the underwriters and processors.

  9. Reply
    eraltehalse
    May 29, 2012 at 11:56 am

    Who and where to order this summer on fair, portion your information.

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