Financing of Mobile Home with Land Property

[Aaron Kinney]

Hello,

I have been a long time reader but this is my first post. Anyway, just wanted to ask if anybody is finding financing for mobile home with land properties.

I have called 30 to 40 of the national and local banks in my area but nobody seems to have an appetite for making loans on these properties to investors. 21st mortgage told me that they would make the loans but after filling out the application, I was denied.

We (my dad and I) have financed our first 12 properties using various personal lines of credit but can see that the end is near at least until some time passes. I have begun to seek alternative financing (private money) but just wondering what you are seeing in your market.