Looking for a mortgage for the average mobile home bad?

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We have the land, which is about 25,000 in equity in it. Owe 7500 and you want to use the equity to buy land and repay the loan and refinance mobile home. but thanks to my brother without his 35-year old mobile home on my property, I have a problem finding a lender who will. His house is his name and is not an assessment on my property. Our credit ratings are around 540-600 do not know the exact amount. Does anyone know who can help us? We want to buy a new 2006 or 2007 dealer.We mobile home is a country where about 25,000 of equity in it. Owe 7500 and you want to use the equity to buy land and repay the loan and refinance mobile home. but thanks to my brother without his 35-year old mobile home on my property, I have a problem finding a lender who will. They want us to divide the property into 2 acts. Because of zoning restrictions, we can not do it. His house is his name and is not an assessment on my property. Our credit ratings are around 540-600 do not know the exact amount. Does anyone know who can help us?

2 Comments
  1. Reply
    Theworldismaddening
    January 21, 2011 at 2:51 am

    So if I am understanding this correctly, you want to refinance the land to take cash in order to purchase the 35 year old mobile home from your brother which sits on your land for you to live in?

    Sorry to tell you but you can’t do what you are looking to do. You can’t have the best of both worlds. Your options are to find a lender that will refinance your land to give you enough cash to put 20-30% down on the mobile home for the purchase. You will then have to pay them or someone else to move it to your land along with the electrical hookup and plumbing.
    The only way it will happen even remotely close to what you are hoping for is to put the mobile on a foundation. Then and only then will you find a lender to consider the land and mobile as one for a refinance. This is of course after the above takes place.
    I am all about helping people so don’t think I am being a pessimist. If you were somehow able to find someone that would be willing to do what you are looking for I would be very interested. I would be a wealthy man with this info. We could work out some kind of split I’m sure.

  2. Reply
    vette1
    January 21, 2011 at 3:14 am

    Try the SOL Mobil Home Mortgage Company. The Broker took my credit app. while I was in Bankruptcy Court, and had me approved before my case was complete. Gee, Thanks SOL Mobil Home Mortgage Company.

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