Updated over 6 years ago on . Most recent reply
Getting a Loan for Land and Mobile Home
Is Anyone familiar with getting a Loan for the purchase of rural land and mobile homes? Would you have to get two separate loans, one for the land and one for the mobile home or are there loans out there that allow you to purchase both under one? If there isn't a loan that allows you to purchase both, would the best option be to try to merge both loans onto one note?
An interesting opportunity came up to purchase 10 acres that has a mobile home on it, but the mobile home needs to be torn down and replaced so I am trying to see what the options would be, financially.
Most Popular Reply
@Stephanie Money and @Tim Johnson - Are you still looking for a lender? I know 21st Morgage and Vanderbilt Mortgage will do mobile home loans in every state. Other than that, a lot of small credit unions will also lend to mobile homes if they are attached to the land....
If you are trying to remove the mobile home, I would recommend reaching out to an investor in your area. There are a lot of investors that will help you move the home for free... try reaching out to @John Fedro. He is in the process of filling empty lots in his Texas mobile home park.