Bad Credit Mobile Home Loans

mobile home loan

Bad Credit Mobile Home Loans are usually easier to get than a loan for a traditional home. Mobile homes (also known as manufactured homes) may be better move for your lifestyle. A manufactured home, many being portable, can provide you with more of a flexible living arrangement.

Also qualifying criteria is easier, especially for ones that are not permanently affixed to land. These kind are not considered real estate so they don‘t follow real estate laws. They follow their special financial guidelines and arrangements.


If you want a home that you can take along with you, a portable mobile home would be your best option. You can usually find them fairly inexpensive compared to traditional houses. Credit rating is usually not a large obstacle.

Permanently Affixed

If you want to stay put for years to come, a permanently affixed mobile home may be your preference. Keep in mind that when it’s permanently fixed to a piece of land, it is considered real estate or real property. Therefore it will abide by real estate laws just as a traditional home would. The great thing is that manufactured homes still run cheaper than the most regular homes. Bad Credit Mobile Home Loans usually require a down payment of 5-10%+ of the purchase price in either situation

Mobile Home or Mobile Home and Land?

Mobile Homes sit on mobile home lots. You can own just the mobile home itself — or you can own the mobile home and the land that it’s on. All type of arrangements can be made with mobile home financing. Ask questions and explore your option with lenders. Shop around and compare mobile loans for bad credit.

Manufactured homes are a great option for some, however; one thing you should note is that they depreciate faster than traditional loans. So don’t expect much profit (or any at all) if you want sell it one day. This is a major point to consider if you’re thinking about investing in mobile homes as a business move.


It is possible for Bad Credit Mobile Home Loans to be spread out as far as 15 – 30 years. There may be other term options available as well depending on the Lender you work with. Mobile home loan poor credit rates can be fixed or adjustable. Weigh out your options and discuss this issue in detail with lenders to lock in on the best rate for your situation.

When considering, keep in mind that a fixed rate is just that ‘Fixed’ – so it does not change – your rate is locked in for complete course of your loan. But with adjustable, your rate can jump Up or down depending on the market, therefore your rates and payment can be hard to predict from month to month. Keep these details in mind when choosing.

In closing…

A variety of variables will determine your mobile home rates i.e., income level, job status, debt –to- income ratio, credit score, down payment amount and other factors. Speak to lenders about Bad Credit Mobile Home loans and options, and be crystal clear about what you’re looking for. Typically, you should be able to secure a mobile home quicker and easier than a traditional home.

To maximize your chances of locking in on a better rate, it would be wise to get your hands on a copy of your credit report and tidy it up a bit. This can save you large chunks of cash over the course of your loan, especially on a 15 to 30 year loan.

Mobile homes can be great personal properties and also investment properties and vacation homes well!

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