Mobile Home Financing

[Alicia]

My husband and I have been looking at buying a mobile home, we both don't have impecable credit. I'm pretty sure we would qualify for a FHA loan, but are finding that lenders are not lending FHA loans to mobile homes that are located in a mobile home park. I would really appreciate some imput on this. Thanks. Alicia

[Ron]

MH's located on rented land are considered personal property. The banks and finance companies treat these loans similar to car loans. They generally carry higher interest rates and shorter terms of pay back.

FHA is available only stick built homes (including MH on permanent foundations.)
Freedie Mac loans may be available on MH with skirting on owned property.

[Karl]

Try National City Bank, if there is one in your area.