Mobile homes are included under the category of real estate. Hence, companies that provide home loans also provide loans on mobile homes. However, the requirements and natures of these loans are slightly different than loans given for fixed homes.Mobile home loans are of two types. Loans for the mobile home alone are usually taken by people living in mobile home community parks and other such temporary arrangements. Actually, these loans are deemed highly dubious by lending companies.
Many banks and lending organizations have today completely stopped writing loans for mobile homes without land. Mobile home mortgages are usually long-term mortgages for periods generally above 10 years.
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