Shopping for new or used manufactured housing can be overwhelming when you don’t know where to look. You might also be worried about the costs associated with purchasing a mobile home. But there is a reason why more and more San Antonio residents are moving into manufactured houses. Not only are they more affordable than track houses, but there are more financing options available.
Keep reading to learn everything there is to know about financing a mobile home. Find your dream house at an affordable price today!
How to Finance a Mobile Home with No Money
The first step you can take when you want to purchase a mobile home is to get prequalified for a loan. If you know your budget and your financial needs, you can speak with a lender or bank institution about the kind of loan you can get for a new or used mobile home.
You can get prequalified quickly and easily in a way that does not affect your credit score. Whether or not you have credit, you can find a payment plan that works for you.
How Long Can You Finance a Mobile Home?
The length of your loan depends on the type of loan and what you qualify for. FHA loans, which are loans from the federal government, usually last between 15 and 25 years for a manufactured home. Remember that these are mortgage installments that you will have to pay back every month.
How Long Can You Finance a Double-Wide Mobile Home?
The larger the mobile home and the larger the plot of land you put it on, the bigger your finances will be. You can finance a double-wide mobile home for up to 30 years. Make sure you speak with your lender about what type of loan is best for you.
Can You Finance a Mobile Home with Bad Credit?
A good credit score guarantees low interest rates on any of your mobile home financing options. If you have bad credit, or no credit at all, you will incur higher interest fees. But that does not mean that you have no financing options available to you at all. In fact, you can still find financing for mobile homes with no credit score required in San Antonio and the surrounding areas.
Who Will Finance a Mobile Home if You Have No Credit?
Some banks and lenders can provide mobile home financing even if you don’t have any credit. Bad credit may incur more hefty financing requirements, but it is more than possible to secure a mobile home for a decent price without having to do any extra legwork yourself.
You can also consult your local professional mobile home dealers to learn more about financing options. Get in touch with Manufactured Housing Consultant to repair your credit score. Or Get co-signer programs, benefit from zero down payments, and invest in mortgage lender financing to find multiple ways to pay off your new home.
Find the Right Home for the Right Price Today!
At Manufactured Housing Consultants, we provide the best opportunities for financing a mobile home the right way. Whether your credit is excellent, poor, or nonexistent, there is no problem! You can find great mobile home loans and financing options through our experts. Visit us in San Antonio to learn how possible it is for you to move into your dream home today!