How Do You Get A Loan For Used Mobile Homes?
There are many sources of money to fund the purchase of a used mobile home. Traditional sources of money like banks and mortgage brokers, as well as other lenders are willing to lend mobile homes buyers. There are also government guarantees for qualified borrowers. These are some tips on getting a loan to buy a used mobile home. Select a price range and a home community to buy your used mobile home. The mortgage process may be more efficient if you can make a selection before pre qualification for a loan. This is not required, but this way the lender knows the mobile home price, the community and the specific home value. Make an assessment of how much cash you have available for a down payment. Some lenders require as little as 5% of the purchase price down for a mobile home mortgage loan. This varies depending on the lender you select. Contact a few banks or mortgage brokers to get pre qualifications for a mobile home loan. Provide your financial information; such as assets, liabiliti
