Posted on: 16th Dec, 2005 08:27 am
I am trying to find a personal loan using my Mobile home as collateral. Our Mobile home is paid off and we own it. Value is probably around 55,000.00. We are looking to try to get a 10,000.00 dollar loan for repairs and improvement the only problem is our credit is not well at all. Is there any hope for us. We need a new roof and new windows and other needed work.
Hi,
I believe it's better to sell the old mobile home andd buy a new one. There are loan programs available in the market. These can help you get a loan to make the purchase.
I believe it's better to sell the old mobile home andd buy a new one. There are loan programs available in the market. These can help you get a loan to make the purchase.
1979 mobile home is paid for but i want to do some improvements to it. Ive had my job for ten years but I do have some vet charges and cell phone charges on my credit report unpaid can i get some kind of loan
Hi anne,
Getting loans against old mobile homes is not easy these days. There are only a few lenders who still offer loans against mobile home. Moreover, you have negative items on your credit report. This can be a major problem in your qualification for a loan. What are your current credit scores?
Getting loans against old mobile homes is not easy these days. There are only a few lenders who still offer loans against mobile home. Moreover, you have negative items on your credit report. This can be a major problem in your qualification for a loan. What are your current credit scores?
I have a chance to buy the mobile next door. It is 10 years old on a concrete foundation NO axels. It has been gone though completely new carpet new linolium, new paint inside and out, new counter tops setting on it's own land. I have a credit rating of 800+ and have $10,000 cash to put down and I still can't find anyone to finance me on this purchase. The place value is $99,000 and I can purchase it for $68,000??????????
Hi Laurel,
If you are looking for a mobile home mortgage loan, the home needs to be placed on a permanent foundation and the land will also need to be owned by you. However, the property requirements for a mobile home personal loan are less stringent. However, such loans are not easily available in this market. There are lenders in this community. You may go for a no-obligation free mortgage consultation with them. If any of them offers a mobile home personal loan and both you and your property meet the required criteria, you may qualify for the loan.
Hi Rick,
You do have an excellent credit and $10k cash to put down on the loan is quite good. The property is also on a permanent foundation which means it may qualify for a mobile home mortgage loan. But, just like you, there are many other people who are finding it difficult to get a mobile home loan. Most lenders are not offering loans against mobile homes. However, there could still be a handful of lenders who may offer such loans. But you will have to do extensive search to find them out. You can also go for a no-obligation free mortgage consultation with the community lenders and see if any of them can help you with the loan.
Thanks,
Jerry
If you are looking for a mobile home mortgage loan, the home needs to be placed on a permanent foundation and the land will also need to be owned by you. However, the property requirements for a mobile home personal loan are less stringent. However, such loans are not easily available in this market. There are lenders in this community. You may go for a no-obligation free mortgage consultation with them. If any of them offers a mobile home personal loan and both you and your property meet the required criteria, you may qualify for the loan.
Hi Rick,
You do have an excellent credit and $10k cash to put down on the loan is quite good. The property is also on a permanent foundation which means it may qualify for a mobile home mortgage loan. But, just like you, there are many other people who are finding it difficult to get a mobile home loan. Most lenders are not offering loans against mobile homes. However, there could still be a handful of lenders who may offer such loans. But you will have to do extensive search to find them out. You can also go for a no-obligation free mortgage consultation with the community lenders and see if any of them can help you with the loan.
Thanks,
Jerry
the above information was very helpful.. i have purchased a Manufacture Home and paid it in full. i was thinking of applying for an equity line of credit.. or a Title Loan and didnt know how to go about it.. but, this has answered some of my questions.. thanks
Hi edith,
Getting a loan against equity in a mobile home will not be easy in this market. Only a few lenders still offer such equity loans on mobile homes. You will have to search a lot to find a lender who might be willing to lend you money against the mobile home. You can also contact the lenders in this community and check out if any of them still offers such loans against mobile homes.
Getting a loan against equity in a mobile home will not be easy in this market. Only a few lenders still offer such equity loans on mobile homes. You will have to search a lot to find a lender who might be willing to lend you money against the mobile home. You can also contact the lenders in this community and check out if any of them still offers such loans against mobile homes.
need 1000 dollars on loan for our mobile home as colleral.
To janette,
You'll find it a bit difficult to get a loan against your mobile home. There are very few lenders who offer loans against mobile homes. As the amount of your loan is not too high, you can look to get a personal loan, given you have good credit scores. Get in touch with some of the local lenders. They should be able to assist you with the loan.
You'll find it a bit difficult to get a loan against your mobile home. There are very few lenders who offer loans against mobile homes. As the amount of your loan is not too high, you can look to get a personal loan, given you have good credit scores. Get in touch with some of the local lenders. They should be able to assist you with the loan.
I have a good job but a low credit score shopping around for lenders has hurt my score.
I own my mobile home, my property rent is approximately 1200/mo. I have a steady job which I have been at my current job for 5 years. Last March I paid off the IRS of 20,000.00. I own my car and only owe one credit card which I have a 250.00 credit line, to establish my credit. No other bills. Do you think I would qulify for a personal loan, using my mobile home as collateral for 10,000.00? Please advise.
i would like totake loan out on mobile home for personal reson
need to borrow money againt my mobile home
We are 18 years old with no credit and no down payment but need a place to live. We found a mobile home but cant borrow the amount we need to meet code requirements. Any ideas?