Sunday, July 19, 2009

I want to purchase a mobile home with lot but bank will not finance?

i am looking to purchase a mobile home with a land but the banks will not finance it because they say the mobile home is on the land. is there anything i can do? i don't have a lot of money to put down maybe like 2000 dollars. i really want this place but i will have to completely move it and then set it back on the property. i went to a bank and they will only lend me a certain %. could i get a loan on the whole thing?? i need help!!


YES, pay cash.

Try a rent to buy deal with seller.

Your post isn't clear about what the problem is, why. Wizip may have answer.

Try another lender.

Generally a lender gives you a mortgage and it is only a percentage, you put down the down payment and they finance the rest. You don't have a RIGHT to get loan, you have to qualify, meet their standards.

Talk to them about converting it to real property.

Generally if it is placed on a foundation, wheels removed and title dtuned in to the DMV, it has a better chance.

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