HELP............Need a Lender for mobile home loan without land

Financing, Hard Money Lenders, Private Money
1

Need to find a lender that will do a mobile home loan without the land. Mobile home is located in a park. I currently rent it out to tenants and they would like to buy it. I am located in NC.

Please let me know if any lenders can help and what are their requirements. ::slight_smile:

Thanks for your quick response…
Michelle

2

they need to go to their bank or credit union. this is not a mortgage type financing. mortgages are done on “real property” not “personal property” by defintion without land this is not “real property”

3

Banks and credit union will not lend to you if the land is not included.

Please let me know of any other places that may lend to you without the land.

Thanks
Michelle

4

This loan is called a ‘chattel’ loan as a mobile home is titled as a vehicle until it is secured on a permanent foundation on ground that is owned. You can do some online searches for assistance, but you are basically looking for a glorified care loan. If searches online don’t help, contact some local mobile home dealers and simply ask where they find financing for their customers who buy homes in parks.