Saturday, November 2, 2013

Mobile Home Financing - The Ways to Get Your New Mobile Home!

If you are thinking about purchasing a mobile home, then you need to understand that there are a few different ways that you can go about this. You have specific options and depending on your credit, income, and down payment will determine which type of mobile home financing you need. Here are some of the top options to consider.For those with good enough credit to get a normal loan you should start with your personal bank that you use for checking and savings. This will allow you to get the best possible interest rate, the lowest fees, and you can make your payment right at the bank with no hassle. This is always where you should start because if your own bank can do the loan, then you will get a great deal.For those with less than perfect credit mobile home financing can be a bit more difficult, but not impossible. You still have the option of a non conventional lender to do your mobile home financing for you. This will have a bit higher rate, but they do not require as much when it comes to credit or income from you.The last resort is to use one of the many buy here pay here mobile home parks that now exist. This is a great way to get started because you will be paying on the mobile home and renting the lot. Once you pay the home off you can move it to your own land or to another park as you please. If you move it to a piece of land, then financing will be much easier.