One major manufactured home lender in the game is Triad Financial Services. Here is a quick overview of three top mobile home loan lenders that are most commonly used by mobile homeowners in this scenario to help get the ball rolling. Nevertheless, you can work with a handful of reputable manufactured home lenders to figure out what will work best for you. Obtaining manufactured home loans for modular homes on leased land does have certain rules and regulations that are often associated with them, especially with government-backed loan programs.
#WHO REFINANCES MOBILE HOMES HOW TO#
Learn how to buy a mobile home already in a community here. As a result, you would be financing your mobile home while paying rent for the land that it sits on, otherwise known as “lot rent,” which is generally affordable. Under these circumstances, you are likely purchasing a modular home that is already located within a community. Leased land typically refers to mobile home parks and manufactured home communities. Moreover, there are several financing options for manufactured homes in a land-lease community.īefore getting into exactly what those options are, let’s go over some of the basics.įor instance, if you do not know what is meant by a home on leased land, that is perfectly okay.
That said, there are specific mobile home loan programs and lenders that can assist you with this particular type of home financing. Many people purchase mobile homes for sale for these very reasons.
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