Many lenders have ceased offering loans for single wide mobile or manufactured homes that are located in manufactured home communities. Why? Many lenders consider singlewides like vehicles, not homes, while other lenders feel that they are too easily re-locatable. Additionally, the vast majority of new manufactured or mobile homes are now doublewides, therefore singlewides are now older and less desirous homes. In summary, a bad risk in today’s current market battered by home owners loosing their jobs or facing tumbling home values.
My suggestion is to check the web (browser search engines like Google, Yahoo or Bing) for a manufactured or mobile home sub-prime lender. You may be directed to a site which just routes your request for hopeful quotes or directly to an actual wholesale lender who can locate a loan broker in your location to process your request.
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