Loan for Mobile Home for Single Mom

Being a single mom has some challenges, especially when finances are considered. Due to being a single mom, there is a good chance that you don’t have a second income source. This can be especially problematic when it comes to housing, especially since the costs associated with it have gone up so drastically in recent years. The good news is those who want to purchase a place to live can apply for a loan for a mobile. For single moms, this can be a huge blessing.

Those who would like to have affordable housing do not have a wide variety of options in today’s economy. One good option to consider, however, is purchasing a mobile home. When you purchase a mobile home, you will have a place that you own, and then you will only need to pay for lot rent or put it on land that you own. Both of these are options that will help keep monthly expenses to a minimum.

There are places that offer a loan for a mobile home for single moms. By applying for a loan you may be able to get the funds you need to secure the purchase of a mobile home, and then you will have an affordable place for you and the kids to live. If you own your own land to put it on great, but if you don’t then you will need a place where you will likely pay lot rent. Be sure to shop around to find a reasonable lot rent rate that is also in a good area.

Loans to be a Mobile Home for Single Moms

Housing and Urban Development (HUD) – This federal agency is in charge of the housing issues in the country. They help more people with their housing needs than any other group in the nation. They have programs to help people with paying for rent, avoiding foreclosure, and much more. They have access to information about government home buying programs and can provide it to you. Locate the HUD office in your state to get more information. To find the office in your state, click here.

United States Department of Agriculture (USDA) – This is an agency in the federal government that offers a special housing assistance program. Their rural development program will provide grants and low interest loans to those who buy or build a home in a rural area of the country. You can contact them to inquire about getting a loan to purchase a mobile home. They help people in all 50 states. If you qualify for a grant it will not have to be paid back. If you qualify for a loan then it will be loan interest and be paid over the years. To get more information about the program, click here.

Habitat for Humanity – This organization is found around the country and focuses on helping people with their housing needs. They offer a variety of programs to help with ensuring that people have housing. You can contact them to see if they can offer a loan for buying a mobile home. Single moms may be able to get more assistance, so be sure to explain your situation. They may also be able to provide you with referrals to other helpful programs in your area. To get more information about the program, click here.

Operation Hope – This organization offers a first time homebuyer program that can be used with purchasing a mobile home. They work with people to help them meet their housing needs. They also try to make the home loan process simple, especially since it is for first time buyers. They also offer other helpful services, including credit and money management, small business development, disaster recover, etc. To get more information about the loans or apply for one, click here.

Primary Residential Mortgage – This lender offers a loan for manufactured or mobile homes. They offer FHA loan options and benefits, including only requiring 3.5% down, smaller down payments, having fixed interest rates, and offering flexible loan term rates. They also only require a credit score of 620 in order to be approved for the mobile home loan. You can complete the application online. To get more information or apply for the loan, click here.

Title I Program – In the U.S. there is what is called a Title I program, which provides people with the ability to take out a loan to purchase a home. The program does allow people to purchase a mobile home. The loan allows for the purchase or refinancing of a mobile or manufactured home. To qualify, it has to be the person’s primary residence, and there is a maximum amount that can be borrowed. They provide a loan for the manufactured home, home lot, and home and lot together. Some people may only need the loan for the lot or the home, but not both, and some may need it for both. They have all those options available. To get more information about the loan program, click here.

Country Place Mortgage – This lender offers low interest loans for those who want to purchase a mobile home. They will provide a loan for a mobile home for single moms. They will also provide loans for modular homes. They offer loans that are for veterans, as well as FHA. To get more information about the loans they offer, click here.

In addition to these options, be sure to check with your local credit unions. Many of them will provide mobile home loans. Also, check directly with mobile home builders, if you would like to purchase a brand new one. Many of the companies that sell them will also provide loans. They offer in-house loan programs, which keeps it easy for single mothers to get approved for the loans to purchase a mobile home. There are programs available at banks, credit unions, mobile home manufactures and more. The loan options are there you have to look around and you will find one to meet your needs.

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