Mobile Finance

Mobile home loans are becoming increasingly popular as the mobile homes technology advances thus increasing the comfort of these homes on wheels. The mobile homes need to be sitting in land that can be provided by the different governments or can be purchased by the mobile home owner. However, it is not the same to get a mobile home loan covering only the vehicle than to obtain a mobile home loan to finance the purchase of the vehicle plus the land where it will be placed. The most significant factor in determining if and how a manufactured-mobile home may be financed is arguably its date of manufacture. The U.S. Department of Housing and Urban Development (HUD) began the registration and regulation of these dwellings on June 15, 1976. Homes built before this date, "pre-HUD", are much more difficult to finance, and are generally classified as "chattels", as opposed to real property, and may be difficult to properly identify. "Post-HUD" homes may under certain conditions be classified as real property and are generally easier to both identify, and to finance.

When considering the purchase of a mobile home park as compared to an RV park there are many factors to consider. While mobile home parks and RV parks are often sold by the same brokers and are combined in one facility, they are not the same and both require different amounts and types of management. The following comparisons are for Overnight/Destination RV parks as compared to the typical mobile home park in which the lots are rented out on a monthly basis.

Obtaining a mortgage for a mobile or manufactured home is possible. Despite the fact that many manufactured homes today are without wheels and almost indiscernible from traditional homes, the financing still remains a little less than conventional. To learn more about getting a mortgage for a mobile home, keep reading.

Mobile homes are housing units built in production facilities and transported to their owner’s location. As opposed to conventional homes that are constructed on site, mobile homes are usually far cheaper and are often associated with rural areas and high-density developments.

I am a Professional Housing Consultant (P.H.C.) certified by the Manufactured Housing Association and have spent many years in the manufactured home industry as a sales representative /sales manager for retail sales centers. Because of my vast experience, I would like to share some financing tips with seniors like myself. Let me begin by going back about ten or fifteen years ago.