Pre 1976 Mobile Home Financing. Loan talk for first time home buyers pre 1976 manufactured home. Determining the worth of a used mobile home that was manufactured over four decades ago is difficult and subject to numerous variables.
Loan to value ratio is calculated by dividing the sum of the home land and land improvements minus the down payment trade in allowance and other credits by the sum of the value of the home land and land improvements. Buy a mobile home even if it doesn t conform to traditional mortgage standards like being more than 400 square feet or it was built before 1976. Financing a manufactured home.
Chattel loans for homes this old are very difficult to find.
07th jul 2009 10 04 am. Determining the worth of a used mobile home that was manufactured over four decades ago is difficult and subject to numerous variables. Unless you re paying cash i d look into securing a chattel personal property loan before you commit to a purchase. Generally a mobile home of pre hud code vintage is only worth what you can get someone to pay for it and that number may be more or less than its estimated value depending where and how sited condition of home how many interested buyers are out there and.