Posts by CA Mobile Home Loans

Manuf. home Rates are higher because how lender obtain the money to make the loan. For conventional loans Fannie & Freddie bundle up the mortgage notes into a Mortgage Backed Securities then re-sale them on the bond markets. Meaning the initial investor does not have to tie up their cash for 10-30 years. So a…

Yes age does matter in Mobile/Manuf home lending. Many lenders will not lend on Pre-HUD homes, ie homes manufactured prior to June 15th, 1976. We can and do offering financing on Pre-HUD homes, we do require 25% down payment, but we make purchasing these homes with a loan possible. What’s the difference between a Pre-HUD…

With the high cost of homes, many buyers have a tough time saving the required down payment. A mobile home in a park provides an alternative to significantly reduce the cash outlay required for home ownership,.With local purchase prices in the $200-$300K range and down payments of as little as 5%, home ownership can happen…

Does location matter? Yes location does matter. If the mobile home is in a park, there is no land being purchased. Financing is done with a chattel loan, not something backed by Fannie/Freddie.If the home is on a foundation with land, then typically the home can be financed using FHA or Fannie/Freddie more traditional loan…