Mobile homes are quickly becoming some of the most popular housing options for families across the nation. They are affordable, movable, and built with the highest-quality materials. What’s not to love?

But future homeowners are still intimidated at the thought of buying a home, no matter what kind of home it is. That is why you need helpful and realistic mobile home loans to help you secure the house of your dreams. Find the answers to your questions about mobile homes financing below!

How Does Financing Work on a Mobile Home?

You can easily get financing for mobile homes because of their low purchase price. In contrast to a large home, a mobile home loan is easy to get through a personal loan or specialized mobile home loan through your banker.

Are Mobile Home Loans Hard to Get?

It is not hard to get your hands on the best Mobile Homes Financing in your area. Even if you have poor credit, you can secure a loan through your lender. Or, you can speak with certified manufactured housing specialists who can offer consultation to help you get the best financing options possible.

Who Finances Mobile Homes?

If you have good credit, you can qualify for mobile homes financing through your personal lender, bank, HUD, credit union, or mortgage specialist. You may even find low-deposit or no-deposit loans to help you get into your new home ASAP. If you are a member of the military or using government assistance, you may qualify for a VA or FHA loan as well.

How to Finance a Mobile Home

Depending on who you are financing your mobile home with, you may qualify for different types of financing. Most consultants will recommend that you get a personal loan through your lender, which is a sum of money you can spend on anything. But beware, because interest rates tend to get a little high.

How Long Can You Finance a Mobile Home?

You can finance your mobile home for as long as your mobile home loan dictates. Like regular houses, mobile homes have loans that can last between 5 and 30 years. Speak with your manufactured home consultant or your local lender to see what type of loan will work best for you.

Can You Get a Loan for a Mobile Home with no Credit?

With most mobile home loans, you need to have a certain level of credit in order to qualify. If you cannot meet the credit requirements, you may still be able to qualify for a personal loan. Otherwise, you can find a chattel lender who will drop all credit requirements.

How to Get Financing for a Mobile Home Today

Now that you have seen the mobile home of your dreams, you just need to acquire the money to pay for it. While mobile homes will always have a price advantage over constructed houses, that doesn’t mean you can afford them in one giant deposit. You may still need a mobile home loan to secure your new space without going broke.

There are many avenues of financing depending on the health of your credit score, your budget, and your monetary needs. Most banks will finance a mobile home, and lenders will offer you a personal loan that you can apply towards your purchase. For more help, speak with our mobile homes financing team today!