The Manufactured Housing Forums

I am looking to possibly purchase a small doublewide in the next 6 months or so....the home will be placed on a small private lot that is owned by my parents so the land is not in my name.

Unless I have no other choice, I really don't want to put it in my name. Hopefully, I will not have any financial problems down the road but you never know, anything could happen.....and I don't want to take this risk of my parents losing the land.

Will I have trouble getting the home financed since the land is NOT in my name?

No there are many lenders who still do home only finance for those with reasonable credit.....If you do home only finance you will have to have a down payment and should under stand they will NOT finance land improvements (such as wells, septics, grading, driveways)....Interest rates of this higher risk loan are higher than real estate mortgages...There are many who actually buy a small piece of land to finance it with the home and to be able to finance the improvements on a mortgage...to take advantage of the lower rates and often have lower payments with the land than the home without the land by itself....A good dealer should be able to help you compare your options....You might want to start now to have the time to opt for the the best route for you....

Hmmm... I wouldn't see why not, but you WILL pay a higher interest rate that a home/land purchase. I'm sure the experts will weigh in.