Financing on mobile homes

[Christopher Huber]

I am trying to purchase two lots, each with a mobile home on it. Purchase price is $170k and monthly rent is $2550. My problem is finding a lender who will finance mobile homes. How would you go about getting financing on these? I've called several banks and mortgage companies but no luck. Any suggestions on lenders who may finance this?

[Keri Lamb]

I love the sound of this deal! I invest in exclusively singlewides at the moment, but we buy the land cash and then use a construction loan to install brand new ones. (The construction loan gets refinanced into a long term loan with the same lender when the property is completely finished and rented out). I recommend looking at any and all community/credit union banks in your area. I know of two (including the one we use) around the Chattanooga, TN area, but I am sure there are others! Best of luck with it!