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I live in Kankakee County in Illinois. I would like to buy a mobile home?
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I am looking into buying a mobile home that is going to be in the year 1980-1989 I don’t really want to pay no more than 10,000 for one. Does anyone know where they will finance for a older mobile home. I have standard credit. I make around 37, 000 a year. My bank has givin me cheap loans under 1,000 before. I went and asked them and they said no. So can anyone help me.
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1 Comments
September 10th, 2009 at 6:01 pm
Not very many banks are financing mobile homes right now. If they say they will, they will give you a hard time about it. Try calling the USDA, and ask for the Rural Development Department. I know they have special programs for manufactured homes.
But with the home being only 10,000 the banks pretty much expect you to come up with that money yourself. A home, no matter what it is, is a huge liability for them, and that’s the reason why they are reluctant to finance them.