Posted on: 19th Aug, 2011 11:15 pm
Mobile home is paid off....want to get a loan to do repairs...about 10k i have no other bills. except for rent and utilities insurance on car...and mobile home...thats it
Hi dp,
As your mobile home is free and clear, you should contact the local mobile home loan lenders and apply for a mortgage. If you meet all the required criteria of the lender, you will be able to qualify for a home improvement loan using that property as a collateral.
As your mobile home is free and clear, you should contact the local mobile home loan lenders and apply for a mortgage. If you meet all the required criteria of the lender, you will be able to qualify for a home improvement loan using that property as a collateral.
Forgot to login... It was me above!!
I would recommend what Adonis said, but also I would like to add from my knowledge it will be kind of hard to get a loan on a mobile home as they depreciate in value so much. What model is your mobile home? does it sit on a permanent foundation? what kind of repairs does it need? All these things may be asked when you go to the lender.