Financial Institutions Manufactured Home Loans

There are many ways to get your own home, and finding financial institutions manufactured home loans is one of them. The mobile homes of yesterday are now more frequently called manufactured homes, and not only are they bigger, but also, many are better made than the original mobile homes made in the late 1960's and 70's.

While this is important, it also means that manufactured home loans is one way to get started with your own home, especially if you find one that is a bit older. There are a few hard and fast rules for mobile home loans and you'll want to make sure that your mobile home is current with these items.

Often, you'll find mobile homes that were manufactured in the 70's very inexpensively, and some are often offered for free. While this may sound like a good deal, you'll never get financing on these types of homes, especially if they were manufactured before 1975.

This is because those homes are not up to code for safety wiring, so the gift horse, is not a gift at all if it's dangerous to live in. So be sure your looking at a home that can get a loan before you move the home to your property. This doesn't mean you should be afraid of an older mobile, you'll just want to know whether there are financial institutions manufactured home loans available for the make, year and model of home you're looking at.

You'll also want to have someone check out the basic structure of the mobile home before you purchase, some will have dry rot throughout due to leaking walls, roofs and plumbing. The basic structure of the home can dictate whether you can move it to your property or to your mobile home park, no sense buying something that can't be mobile in this situation.

Getting financing for a mobile home is just about the same as getting a home loan for a stick frame home, just check with your financial institution to make sure the home is up to code for refinancing or financing and the basic structure is sound enough to handle the move.