All Forum Posts by: Mike Williams

Income and down payment are not a problem. If the seller agrees, what terms should I expect on a 13 year old double wide in reasonably good condition? How long does the average mobile home last? What do you do with the property say 10 years from now, when you want to sell? Are these really hard to unload, and do they depreciate as I have read elsewhere?

Thanks. The seller is an estate, so I'm not sure if that will impact negatively?

I'm interested in making an offer on my first investment home. It's a mobile unit on a third acre of land in a nice community of normal stick built homes. I have no experience with these and I was taken by surprise trying to obtain a mortgage for this purchase. Other than 21stmortgage.com, I haven't found anyone who will finance a mobile unless I plan on living in it. I'd like to buy for rental income. The terms at 21st mortgage are hefty and I'm hoping there are alternatives. Thanks in advance for your help.