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  • Writer's pictureDimitri Petit-Frere

Financing a Mobile Home

Many people, especially in Los Angeles are looking for an affordable place to live that they can call their own. Mobile homes are a great option for people looking for a simpler lifestyle and efficient living arrangements. Once you have purchased your home the lot rent will be cheaper than a typical apartment, which averages $2,524 in Los Angeles according to Rent Cafe. Financing a mobile home is easy to get done with the right team. According to that same survey, the average square footage is only 792 ft, which means you are also likely to get more space in a mobile home, as well.

Financing a mobile home may feel scary but it doesn’t need to be.

So how do you go about financing? For that information, we turned to an expert, Kathy Edmondson, Finance Manager and Owner of Mobile Home Loans 4 U. We asked for the best practices, what to expect, and what you’ll need.

Criteria for a Loan

  1. Manufactured/Mobile Home Loan Criteria 5 to 10% down with good credit – Home Manufactured 1977+ 5 to 10% down with good credit -OR-

  2. Home Manufactured 1970-1976 23 Year Max Loan term $20,000 Minimum loan amount -OR-

  3. 5 to 10% down with good credit-Home Manufactured 1960-1969 on a case by case basis No prepayment penaltyYou don’t get penalized for paying the home off early

Options For Lower Credit Scores?

We have 20-35% down payment programs to help get you approved!! No PMI or MIP!!! Buy For Programs Available (call for details)Rate and Term Refinance Programs Specializing in Manufactured/Mobile Home Parks with leased land (chattel)Land and Home Loans (no permanent foundation required)

Documentation Needed

Please send the following financial documents along with your completed application. Please make sure to write your current $ of rent you are paying, marital status, and how many dependents you have.

If you have been at your current job less than 3 years please also fill out the attached 3 Year Employment Form completely as possible.


W2 Employees please send: Most Recent Pay Stub2018 and 2019 W2s (We don’t need tax returns just the W2s)

Social Security/Disability/Pension please send: Social Security or pension award letter2018 and 2019 1099s or W2s 1 recent bank statement all pages showing the deposit. (We don’t need tax returns just the W2s or 1099s)

Self Employed please send: Last 2 years Federal Tax Returns, all pages, all schedules, signed and datedYear to Date Profit and Loss Statement Year to Date Balance Sheet Please Call or e mail if you have any questions. 1 800 520 3191 or

Contacting Mobile Home Loans4 U

Kathy Edmondson Finance Manager/Owner 1 800 520 3191

Monday-Friday 8 am to 6 pm!! Saturday 10 am to 4 pm Sunday Closed **If she doesn’t answer she will call you back**

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