Mobile Home Loans

Low cost housing as an alternative is provided by Mobile and Manufactured homes. Are they good as an alternative? For investments Condos and Single family homes are better. Most mobile homes lie on parks where you have to pay rent. In some cases, the land where the home lies is also owned by the people who live in that mobile home. The kinds of parks are Senior Parks, Family Parks and RV Parks.

In these homes you don’t have to share walls, you can enjoy community and don’t need to own a regular home or condo. Pre HUD homes, built before 1976 often have bad construction, wiring and plumbing quality. Be careful when buying such homes.

Inspection is important prior to buying a home, mobile or otherwise. Usually parks allow pets and offer a pool, spa and other amenities. Mobile homes can be loved or hated depending on your personal make up. Maintainence costs to mobile homes can be quite high.

Although some people have sold mobile homes for profit, don’t look at these as an investment. Before purchasing in a mobile home park you may require approval from the park management. If you like the positives of a mobile home and are willing to overlook the negatives, maybe they are for you.