While down payments aren’t always necessary, you will find it significantly more difficult to get approved for manufactured home loans for bad credit. Especially if you aren’t able to afford sizeable amounts up-front. This is because mobile homes, unlike regular, conventional homes, depreciate in value over time.
Even with a bad credit score, a bad credit land loan is not out of your reach. During this recession, the real estate market is struggling. bad credit land loans are difficult, but not impossible. Research several lenders to find the best deal you can.Be preparedGetting a bad credit
Let us handle the mobile home financing for you.. Home and Land: This type of loan allows you to finance your land and the home in a single payment.. Down payments are as low as 5% on most programs.. America's biggest and safest tax break; Pride of ownership; builds equity; establishes credit with major lender .
Financing a mobile home with bad credit, in particular, has been a difficult proposition for mobile home lenders and borrowers, especially in recent years.That is why many communities offer financing for mobile homes. Chattel lending from the buyer’s perspective looks much the same as any other type of manufactured home lending.