Financing A Mobile Home Differences From A Traditional Home

Financing A Mobile Home Differences From A Traditional Home

Financing a mobile home has its differences from a loan on a traditional home. Too many buyers get surprised to find out the differences and I wanted to share those differences so you don't end up surprised.

First let us realize there are some differences between a traditional stick and brick home and a mobile home. A mobile home has a different foundation, different building materials, typically sits on an acre of land and has a septic system. For some of these reasons the financing requirements, fees and inspections are much different.

I cover all these difference in details along with the added costs. One last thing to keep in mind is the fact that many lenders will not finance a mobile home. Sometimes even if the financing is available the loan officer won't do it... why? Well because it is more work and typically a smaller sales price. For this reason it is important you go with an agent who is familiar with these types of transactions and lenders who will do the loans as well.

I hope you find this helpful and of value!

With the heart of a teacher I look to educate my clients about the process of buying, selling or renting real estate. I strongly feel an informed and educated consumer will be more confident & make better decisions. Have questions about this or other topics, do not hesitate to contact me.

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Luis Cuevas, Broker/Realtor®

Serve Realty

(214) 783-0535

Luis@ServeRealtyTx.com

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