Is there such thing as a mortgage for mobile homes?

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The park offers a very visible on a mobile home.

  1. Reply
    February 10, 2011 at 2:05 pm

    Very difficult to get. You could take out a personal loan to purchase or a second mortgage if you already own a home.

  2. Reply
    February 10, 2011 at 2:52 pm


    Sometimes the actual manufacturer offers a financing program that is just like a mortgage, but most people just go through the regular mortgage channels, such as banks or mortgage companies.

    Just be sure to tell them you are looking at buying a prefabricated home when you start the application process, and the loan officer can help guide you.

  3. Reply
    February 10, 2011 at 3:03 pm

    yes, if the mobile home is permanently affixed to the ground, i.e. the wheels are off, hard-plumbed, etc.

  4. Reply
    Tone G
    February 10, 2011 at 3:23 pm

    U are looking for a “chattel mortgage” same as a car loan, u can get a mortgage for any asset, just depends on some “factors” for example..does a mobile home gain value or lose value over time? I would assume that there would also be a higher rate of default for an item that can be stolen..but thats what insurance is for!

  5. Reply
    February 10, 2011 at 3:30 pm

    Yes. There is a specific type of “non-conforming” mortgage loan for mobile homes which falls under “manufactured housing.” Some lenders will not finance a mobile home in a park, however, so you may have to search around.

  6. Reply
    February 10, 2011 at 3:50 pm

    Of course. The loan amount is usually much less than a standard home because the mobiles are much less expensive.. It does not cover the rental fee at the mobile park though. Pay very close attention to that amount and the rules regarding it. Be very concerned as to if, when, and how much it will be raised from time to time and if there is any type of guarantee, if any, that the park might be sold and make you responsible for moving your home to another location.

  7. Reply
    February 10, 2011 at 4:43 pm

    Sure! Just ask around at local banks and mortgage companies.

  8. Reply
    February 10, 2011 at 4:47 pm

    No, mortgage lenders won’t touch it since you aren’t purchasing real estate. In order to get a loan for a mobile home you need to go to your local bank, or ask around to other people in the park and see where they got their loans from.

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