Mobile Home Loans: Do You Qualify?

Mobile Home Loans with Private Lenders

Skip the requirements and restrictions of traditional financing for mobile homes and work with us! We work with investor-borrowers who purchase or refinance mobile homes for investment purposes. We have secured mobile home loans for borrowers throughout the state of South Carolina including Aiken, Myrtle Beach, Charleston, Summerville, and Columbia.  Each loan is unique and requires an individual approach. That's where we come in!

Mobile home manufacturers offer great financing options to new mobile home buyers. It's the used mobile homes that are far more difficult to finance. Traditional financing options are usually eliminated because banks are simply not in the business of financing mobile homes. Not only that but when you mention that this is an investment or a fix and flip purchase, your options for mobile home loans become even more limited. Working with a private lender changes all of that. Using private lenders or hard money loans makes the process quicker and simpler.

Mobile Home Loan Tips

Is this your first mobile home purchase? It helps if you have a real estate agent or choose a closing attorney that is familiar with mobile homes. This is especially helpful when the mobile home is not detitled. Securing a loan for mobile homes that have not been de-tititled is not a problem for us, it just requires a few additional steps. Ask your agent if the home is detitled.

Keep in mind the collateral for the loan must consist of the home and the land. We can not secure funding for any mobile home that is located in a mobile home park where you do not own the land. If you are paying lot rent, you do not own the land.

Also, make sure you have a repair estimate or an inspection report if you need funds for renovations.

Last but not least, you need a solid exit strategy. We need to see your plan to pay off this loan.

Requirements

• Must Include Land
• Must Be Used as Investment
• Substantial Down Payment
• Minimum Loan Amount - $20,000
• Provide an Inspection or Repair Estimate
• Exit Strategy - How will you payoff the loan?