Financing For Mobile Homes
Who is Dean Graziosi?Dean Graziosi has been investing in real estate and teaching thousands how to do the same for over 20 years! Learn About Dean Graziosi!
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The truth is financing for mobile homes is difficult to do. Most lenders do not like to finance mobile homes. This is whey seller financing is so prevalent.
However, if a bank were to give financing you will usually see:
- Lenders giving 60% or less of the value of the property and even 50% or less if the home is in a park without land.
- Homes older than 1980 will be more difficult.
- The down payment can be seller financing but most lenders will require a large amount as cash.
- The interest rate of mobile home financing will be between 8%-12% for excellent credit.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125