financing for a mobile home built in 1975

Rena Stegenga · Post by **Rena Stegenga** » Wed Sep 03, 2003 2:29 pm

My fiance and I have found a mobile home we would like to purchase and are having a very difficult time finding someone who can help us. it is a mobile home, built in 1975 and it sits on a slab. Do you know of anyone who can help us finance this home? Any information you could offer us on this matter would be greatly appreciated. Thank you.

Rena Stegenga

jgn · Post by **jgn** » Wed Sep 03, 2003 3:07 pm

What you will have to finance is the land since the home is pre HUD. The problem with pre-HUD homes is most lenders are skeptical about lending on them unless you have A++ credit and than they are lending on you not the home. If the land will appraise out right you can probably get a conventional loan on it but that will require about 20% down.

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