Financing an older MH

Difficult to find a bank or credit union that will finance an older MH. If you find a company to do it, it will charge big rates and you'll be under water with it for years. Using something else for credit will get you a much better rate using a reputable company. Most that charge those high interest rates are way below-average in the reputation department, and they will sell the loan.

Yes most places won't go past 10 years old. I missed several great units just because they were over 10 years old.
Bill

Well in order to get a home equity loan, You must own a HOME. If you rent. Or if you own a mobile home, you can not obtain a home equity loan. Yes it is very hard to get a loan for an older RV.

Popsie wrote:
Consider a Home Equity Loan to get the money you need to buy an older coach.

Lower interest rate, easy to do.

I don't like to borrow against our house, but this would be the cheapest. Our home equity rate is at 4 percent.

My dealer assisted in finding a local ( in the same state ) credit union that would loan on a 2003 at 5 % .. Required a higher down payment based on nada value and only since our Fico was above 800 to boot.
2006 was the magic number at least least year , probably 2007 by now that it became more difficult even with good credit to get a loan or rates went up to the 10% range if they even talked about it !
8 years appear to be the new line . I imagine that that will drive down values at 7-8 years as it dramatically lowers the buying pool to cash buyers or buyers with enough home equity to tap

Consider a Home Equity Loan to get the money you need to buy an older coach.

Lower interest rate, easy to do.

I went through a company called Scott Financial, who later sold my loan to M&T Bank, Baltimore, MD. You may want to check with them.