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Most lenders and insurers are very reluctant to have anything to do with mobile homes built before 1975. -But keep looking, you may be lucky.
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∙ 11y ago
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How can one apply for a mobile home equity loan?
To apply for a mobile home equity loan it is necessary to go to your local bank or other corporations that offer these loans. It's advised to look through many offers, as one can offer a loan at low interest rates. To be eligible for this type of loan, you may not have more than 4 residences on which there's already an equity loan on. Also your residence may not be under construction, built on leased land, for sale or a mobile home.
Where can i find a repair loan for a mobile home?
Some banks will allow these, but appear to be stuck on homes built after 1975 when HUD rules came out.
How do you gain ownership of a mobile home on my property?
To get mobile home loan you have to satisfy certain standards set up by the 1976 HUD code.For mobile home financing you can take mortgage loan to buy both the land and the mobile home or to buy either the home or the land.
Can I get a mobile home loan with bad credit?
No it's not possible to get mobile home loan with bad credit.But it can be checked also by making loan application safely and securely for the best rates possible.
My mobile home is on some else's land If that land is foreclosed on does my home become part of the foreclosure?
Not unless the mobile home was part of the collateral offered for the loan that is in default or. For example, if the lender gave money to a borrower and secured a lien against land, then you placed the mobile home on the property, the mobile home is your property and was not part of the defaulted loan. You will be required to vacate the land, but should be able to take the mobile home assuming it belongs to you. Generally, true mobile homes are not real estate, they are personal property. A mobile home can become real estate if it is built after the 1970s, has a HUD sticker, is on a foundation and the owner pays property taxes. If this occured and was owned by person who defaulted on the loan, it might be part of defaulted loan. There may be a trustee of record for the foreclosure, if you are unsure about your rights you may contact them or an attorney for information
What is a Bad Credit Mobile Home Loan?
Bad Credit Mobile Home Loan is a type of loan that is extended to people with low credit score. In addition, the loan itself is reviewed from time to time making sure the rate is appropriate for the borrower.
Mobile home loan on land?
Yes. You can get loans for mobile homes on land. It depends on what state you are located in.
Can you get a loan for a mobile home as personal loan?
You can get a "personal property loan" for mobile homes as long as it's a loan for the home only.A personal loan is an unsecured loan in which you don't have to give any security. But some banks can ask for a guarantor or security. The terms and conditions varied as per lenders. The benefits are:Minimum documents required.
You already have a fha loan on a mobil home but you want a house loan what do you do to get another loan?
Well this will depend on what kind of FHA program you are insured under for your mobile home. If it is a "Home Loan" under 203(b) program then only under certain circumstances will you be allowed another FHA. BUT if you received a "Dealer" kinda of loan under the FHA program for the mobile home it can be classified as "personal property".......possibly.... If there is land or real estate property involved in the loan then probably not. Only a FHA Lender (underwriter) will be able to determine based on a verification of mortgage or loan from your current mobile home lender.
Mobile Home Loan Forms?
Title I Manufactured Home Loans are also known as Mobile Home Loans. You can obtain forms for these through your local HUD office.
Which banks offer mobile home loan services?
Banks that offer mobile home loan services include but are not limited to BMO Harris, 21st Mortgage, Montecito Bank and Trust, Stockman Bank, and Bank of the West.
Can a mobile home be eligible for a home equity loan?
Yes, JCF Lending Group offers cash out and debt consolidation loans for mobile and manufactured homes in parks.www.chattelmortgage.net
