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financing a mobile home with land

For Title I insured loans, borrowers are not required to purchase or own the land on which their manufactured home is placed. Instead borrowers may lease a lot, such as a site lot within a manufactured home community or mobile home park.

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A borrower can obtain an FHA loan to purchase a manufactured home, the land or lot for a manufactured home, or a combination of a lot and home. The loan also can go toward refinancing an existing manufactured home. The home must be the principal residence of the borrower.

Buying a mobile home: loan options. If you decide to finance the cost of your mobile home or land, the rules are a bit different from those for standard single-family homes. For a new single-wide mobile home, Golightly says financing is practically impossible through a larger private lender.

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Limited Financing Options. There are only two types of manufactured home financing: a traditional mortgage and a chattel mortgage. Most people understand the traditional mortgage: find an existing home or build one, then apply for a 30-year fixed mortgage or another mortgage type and lock in a highly favorable interest rate.

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Countryplace Mortgage provides mobile home loans, modular and manufactured home financing nationwide. click here to Apply Online from our website Today!

Home and land finance programs; Guaranteed equity approval irrespective of credit score; Alternative income program for self-employed individuals; No Credit, Low Credit, No Problem! Nowhere else will you find great financing programs for mobile homes San Antonio. No credit score required, no down payments for VA land and home financing and.

First Pacific Financial is one of the leading Chattel loan lenders in California. Manufactured and Mobile Home Chattel (Personal Property – Home Only or In-Park) financing is available for Manufactured and Mobile Homes where the land the home is placed is not offered as collateral for the financing.

August 6, 2010 – The FHA has a program that lets fha loan applicants get financing (or refinancing) for the purchase of mobile homes, a developed lot for the mobile home, or the combination of the home and the lot. Like other fha loan products, the mobile home must be considered the primary residence of the FHA borrower.

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