It is best to contact a lender about a mobile home loan when you start to look for a new home. They are going to go over your finances with you and tell you the amount you are pre-approved for. They'll also be able to spot any red flags that would make it hard for you to get a loan. If you wait until you've found the perfect home, then contact a lender, you risk being disappointed if you aren't pre-approved for a mobile home loan at the price you were expecting.
Mobile home loan rates in California are going to be slightly higher than other home loans, 2-3% higher on average. This is because the lender is loaning on a property that isn't fixed to land, and technically you could move the home without their knowledge. They may refer to the mobile home loan as a chattel loan - similar to loans on personal property.
Yes, you can refinance a mobile home loan!
Mobile and manufactured homes can be put on land in a lot of places, but you have to check with the county you are going to purchase land in to find out their rules.
You may choose to purchase a new mobile home, sometimes also referred to as a manufactured home. You have a couple of options when it comes to finding a space to put your new home. Mobile home parks don't usually have open spaces, most already have homes in every space. However, if these homes are very old, they can be very inexpensive. They expect that you'll purchase the home and dispose of it - sometimes it will even say this in the property description on Realtor.com. (Click Here to search for homes on Realtor.com.) After you dispose of the old home, you can move your home onto the land. Mobile home parks are great communites to live in. In most mobile home parks. you'll have to pay monthly space rent. You can Click Here to find for mobile home parks and their average space rent in California.