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Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 128146  
Subject: Re: Looking at mobile home - is this a mistake Date: 10/8/2012 11:44 PM
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Since I have never purchased a home, I am a little afraid about it. I would think nothing of investing into a stock, but a home ?

If you are trying to 'invest' in a home, I would suggest that you not buy a mobile home. While you may be able to buy it cheaper than a site-built home, you will likely end up selling it even cheaper, if you can sell it at all. Plus, many lenders do not like to lend on mobile homes, especially if there isn't any land that will be owned along with the mobile home, or if the mobile home is approaching 30 years in age. Lenders being less willing to lend means that it will be harder and more expensive for you to get a loan, and harder and more expensive for your buyer to get a loan.

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