Where can I go to get a mortgage on a 1986 mobile home in a mobile home park?

Question

We own the mobile home already we just need some kind of loan or mortgage to put some new siding and other repairs into the home!!

Answer 1

Ask about a home equity loan.  A mortgage on a mobile that old would be pretty hard to get.

Answer 2

Go to your bank, ask for a home equity line of credit, a home that old, they may need you to put up some collateral like land...I wanted to mortage my father in laws double wide 5 years ago, at the time it was 25 years old and no one would touch a mobile home that old....but...I really wanted the land (2.5) acres..but...would have been way too much to pay! Good Luck!!

Answer 3

A mobile home is not a good investment.  You'll never be able to sell it for what you buy it for.  You'd be better off renting and saving.

Answer 4

Some vinyl siding companies will finance.They do this because the way the economy is,nobody has that kind of money.Sure don't dip into your emergency fund.As for the other repairs,do them  along and along.As for the people telling you to get an apartment,do what you want to do.True they go down in value,it beats paying for a place you will never own.

Answer 5

i just went to the bank . hope you can get your place , good luck .

  yes , my trailer was older and in a park . the bank had no trouble . i live in canada , if that helps .

   you can get a bank loan , a line of credit , for renovations . i did , to do my roof . watch out for lose " insta loan " places . very high rates .  good luck on your fix ups , d.

Answer 6

OMG,

you are so better off renting an apartment month to month than doing that, THose go down in value Just lkike a car, if't it's an is it can't be worth more than 8,000. your space rent goes up every year, and your mortgage, the best you could hope for would be 8.5% interest.

EDIT- WHY?????? they are hard to sell, a loan for new siding on a 1986?????

don't mean to sound rude, but i don't think your making the best financial move. cause it will still go down in value.