Posted on: 08th Jan, 2013 10:25 pm
Hi there... I’m looking for a mobile home loan. I’m having a problem finding financing for a manufactured home. I’m currently in the Military and am tired of “throwing away†money onrent. I live in rent and when I transfer to a newduty station, obviously the home doesn't come with me. So, I would like topurchase a mobile home, and when I transfer, The Government will pay some of the cost to move the home. My problem is I can’t find a lender that will allow the home to be moved during the life of the loan. We don’t want to buy a house and attempt to sell it when it comes time to transfer. Because if I don’t sell it, we are still responsiblefor the mortgage. Anybody have any recommendations for lenders?
Welcome Jenny,
Yes, it is true that if you have a mortgage on the property, you won't be able to move it from one place to another. You will have to fix the property to the land. You can contact the private lenders and check out if they can offer you a personal property loan.
Yes, it is true that if you have a mortgage on the property, you won't be able to move it from one place to another. You will have to fix the property to the land. You can contact the private lenders and check out if they can offer you a personal property loan.
This is a very practical problem faced by you. You will find it really difficult to find out a lender that will allow the home to be moved during the life of the loan. You can go for cheap rent option.