Do you know anyone that does Mobile Home/ Trailer financing. I live in Maryland and I am helping a client.?
I am looking to find a lender that does financing for trailers/ mobile homes. Many of the lenders we contacted do not nouns trailers because it is similar to purchasing a vehicle. My client is looking to win financing for more or less $15,000 and he have average credit. He be pre-qualified to purchase a home, but he is interested in a trailer effective his work. If anyone can provide a company nickname and tel# or website info, that would be greatly appreciated. Thank You
Answers:
Vanderbuilt Mortgage Company is who I use to operate next to.
www.vmf.com
FHA does mobile and manufactured home financing up to 97% loan to merit.
Caveat- The home must be HUD certified, on a unalterable foundation, built after 1976 and the lands and home must be a parcel (no lease ground or parks).
Beware, it is extremely difficult to attain financing even if adjectives of the above is true. On lease environment it is essential impossible. You will NOT know how to broker, it is a different type of loan, similar to an unsecured personal loan. Rates are 9-15%.
G00GLE "chattel loan" or "chattel lender". Vanderbuilt mortgage comes ot mind. You might be capable of gain a small refferal levy but nought else.
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Answers:
Vanderbuilt Mortgage Company is who I use to operate next to.
www.vmf.com
FHA does mobile and manufactured home financing up to 97% loan to merit.
Caveat- The home must be HUD certified, on a unalterable foundation, built after 1976 and the lands and home must be a parcel (no lease ground or parks).
Beware, it is extremely difficult to attain financing even if adjectives of the above is true. On lease environment it is essential impossible. You will NOT know how to broker, it is a different type of loan, similar to an unsecured personal loan. Rates are 9-15%.
G00GLE "chattel loan" or "chattel lender". Vanderbuilt mortgage comes ot mind. You might be capable of gain a small refferal levy but nought else.