What kind of interest rate can I get funding for a mobile home? I am thinking of buying a MH with the land where he is now. I live in Maryland and has a good credit.
The mortgage of land and mobile home loan is likely to be separated. The land is real. A mobile home is personal property, like a truck or something. A mobile home necessarily diminish the value over time. The earth, not so much.
You can obtain a mortgage of real property. Everything else needs a loan that you secure with the personal property as collateral. And, is the interest rate on the mobile home would be similar to a car loan.
Posted on February 17, 2010.
