I’m referring to mobile homes that are for sale in mobile home parks. Banks will not mortgage them because they are not considered property unless they are on their own land with a permanent foundation. So when I see these mobile homes in a park for sale at 60K or 80K or 100K .. how the heck do people buy these things? I can’t imagine getting a conventional bank loan because the interest would be insane. Does anybody know how an average Joe buys a mobile home???
Yes, I’m talking about mobile/manufactured homes, not RV’s lol.
I’m not asking for advice on whether I should buy one or not. I’m asking HOW do people buy these things, and afford them? It seems that if you’re paying $1000 or more a month for a mobile home loan, why not just buy a house?
Just trying to comprehend how folks buy these things, cause they are all over the place where I live (Delaware).
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