Are you the owner of a mobile home and you have ugly credit? Do you want to purchase a home of the mobile style, but you know you have bad credit? If this sounds like you, then you need to know what your options are so that you can find the financing you need to get the mobile home of your choice or to refinance your current mobile mortgage. Here are some options for mobile home loans for bad credit to help you.

First, you should always start with your bank or the company that is currently holding your mortgage. This is the best place to start because they will have the lowest rate if you can get a loan through them. They will have requirements like the land must be owned by you and the mobile needs to be on a foundation, but these are pretty normal. Some will allow you to live in a park, but not very many.

Second, you can try a non conventional lender that does mortgage loans. They will have better mobile loans for bad credit because they do not have very high requirements for credit or income. This is probably your best bet, but they will have a minimum loan amount so if your mobile is not worth very much you might have trouble getting a loan this way.

Last, if you are purchasing and you have no other options for mobile home loans for bad credit, then you can go to a buy here pay here mobile home park. This is a great way to get started and once you pay off your mobile you can buy some land and move it there. Then, you will not have any issues getting financing for your mobile if you ever need to refinance it.

By: Gressly Stevens