Do you already know that you do not have good credit? What about your income? Is it a bit lower than you would like? These are all factors in whether or not you can get a bad credit mobile home loan. However, there are lenders that will still work with you even if you do not have a good credit score to show them. Here are some instructions on how to get a bad credit mobile home loan.
First, you need to know what you are dealing with in
Real Estate Business in India . Get a copy of our credit report or at least get a lender to give you your score. This can be done online for free or you can just apply for a loan and ask them for your score. Even it they do not want to give it to you if the turn you down you are entitled to a copy of your credit report and they will send you a letter telling you how to get it.
Second, if your score is above 580, then there are lenders that will work with you. You just have to distinguish between the good and the bad mobile home lenders. These are typically non conventional mortgage companies and not banks. However, if your score is above 650 and you have a good relationship with your bank, then they will probably help you out. Most lenders will want your mobile home to be affixed to a foundation and have no wheels in it, though.
Last, if your credit is really bad and your score is below 580, then you have really only two options. One, would be a private lender that is an individual. Two, for a purchase, you can use a buy here pay here mobile home park. There are parks out there that will finance your mobile home for you and once you pay it off you can move it wherever you want. This is how to get a bad credit mobile home loan if your credit is really bad.