In recent years, the popularity of mobile homes has soared as an affordable housing option. These compact and versatile dwellings offer an attractive alternative to traditional homes, particularly for individuals seeking affordable housing solutions. If you’re considering purchasing a mobile home, understanding the financing options available to you is essential. In this article, we will delve into the world of mobile home financing, explore the various options, and shed light on the importance of credit scores.
What is mobile home financing?
Mobile home financing is the process of securing a loan to purchase a mobile home. Unlike traditional mortgages, mobile home loans are specifically designed for these types of manufactured homes. The financing options available for mobile homes can vary depending on factors such as the age and condition of the home, the borrower’s creditworthiness, and the lender’s requirements. Let’s explore some of the common avenues for obtaining mobile home financing.
Work with a Lender Who Specializes in Mobile HOmes
One option for mobile home financing is to work with a lender that specializes in mobile home loans. These lenders understand the unique nature of mobile homes and can offer competitive loan terms tailored to your needs. They often have specific eligibility criteria and require a down payment, proof of income, and documentation related to the mobile home’s value and condition.
Work with a Traditional Mortgage Lender
Another financing option is through a traditional mortgage lender. Some lenders offer conventional mortgage loans for mobile homes that meet certain criteria, such as being permanently affixed to a foundation. These loans generally have more stringent requirements than specialized mobile home lenders, including higher credit scores and larger down payments.
Government Backed Loans
Government-backed loans are also available for mobile home financing. The Federal Housing Administration (FHA) offers loans specifically for mobile homes. These loans have flexible qualification criteria and can be used for purchasing or refinancing a mobile home. Additionally, the Department of Veterans Affairs (VA) offers VA loans that can be used to finance mobile homes for eligible veterans and active-duty military personnel. VA Loans are generally $0 down.
Credit Scores
Now, let’s discuss the importance of credit scores when seeking mobile home financing. Your credit score plays a significant role in determining the loan terms and interest rates you can secure. Lenders use credit scores to assess your creditworthiness and evaluate the risk of lending to you. A higher credit score indicates a lower risk borrower, making it easier to obtain favorable loan terms.
To improve your chances of securing mobile home financing, it’s important to maintain a good credit score. This involves making timely payments on existing debts, keeping credit card balances low, and avoiding new debt in the months leading up to your loan application. It’s also crucial to review your credit report regularly to identify and address any errors or discrepancies that could negatively impact your score.
If you have a lower credit score, there are still options available. Some lenders specialize in financing for individuals with less-than-perfect credit. While these loans may come with higher interest rates and stricter terms, they provide an opportunity to secure financing when traditional lenders may be more hesitant.
In conclusion, mobile home financing offers a range of options for those seeking affordable housing solutions. Whether you choose to work with specialized lenders, traditional mortgage lenders, or explore government-backed loan programs, it’s essential to understand the requirements and qualifications associated with each option. Additionally, maintaining a good credit score is crucial in securing favorable loan terms. By educating yourself about the available financing options and taking steps to improve your credit, you can make informed decisions and find the financing solution that best suits your needs when purchasing an affordable mobile home.
A milestone of independence, owning your own home can be a rewarding experience, but jumping in without a solid plan may not be advisable. Our latest article provides a detailed guide for prospective homeowners, especially if you are considering a mobile home. We show you the importance of assessing financial readiness, understanding property taxes, insurance costs, and utility expenses. Our goal is to help you find a suitable home within your budget and lifestyle needs.
Ready to turn your dream of homeownership into reality? Our latest blog breaks down the numbers for budgeting a new mobile home, offering a strategic guide to accumulate funds and estimate your timeline. From setting clear savings goals to exploring financing options, Granger has got you covered. Dive into the details on our website for a stress-free journey to your dream mobile home here!
This business is very customer friendly. Super thankful for Kyle, Elainea, Tyden, and all who take care of my mom and her home she bought from them! Thank you for your courtesy and friendliness.
BEST MOBILE HOME PLACE!!! Buy your homes HERE!!!!! I’ve went to 3 different mobile home dealerships none of them could compare with the amount of respect and sweet deals I got with Kyle he was quick got me in my new doublewide very fast returned every phone call and text message that same day even if his office was closed I 1000000000000% recommend you shop here they will take very very good care of you
Granger Mobile Homes was a pleasure to work with when I purchased me single wide to downsize. They were VERY good about returning my calls and working with me to answer MY many questions about the whole process. It was a learning experience for me because this was my first experience with this type of dwelling, but Granger was right there to guide me through the process and get back quickly with me if I needed answers. Thanks for your patience and service through the process Kyle, Elaina, Elaina's hubby, delivery team, and office team! God bless!❤️
Has been a pleasure to work with the entire team at Granger. They always were friendly and helpful and went above and beyond. I will always recommend this group of people.
Not really a review of Clayton Homes but more so for Granger Mobile Homes dealership. We own property and was looking for a home to retire in. My wife found a listing for a manufactured home and called about. She was so impressed on how nice and helpful Kyle was we drove past a Clayton Homes dealer 5 miles from us (with rude and self centered people) 80 miles to Granger. It couldn't have been a better experience with the people there. I immediately liked the "good 'ole country boy" attitude displayed by Kyle. Made us feel right at home working with him. Still some hangups with our water department with getting water and septic installed but not the fault of Granger. I have called a few times since we purchased our home and he is always quick to answer and helpful. His assistant is extremely nice and helpful also always. I am horrible remembering names so hers escapes me. I couldn't recommend Granger Mobile Homes enough if you are in search of a manufactured home. You won't be disappointed. I wish I could rate them more than 5 stars.
Very friendly! Always sent updates about build time and if Kyle ever didn't know an answer to a question I had, he would figure it out. I would recommend Granger Mobile Homes for anyone wanting a new trailer!
We had the BEST experience with Granger Mobile Homes. Kyle and the entire crew were super amazing from the beginning to the end. We are very satisfied and in love with our new home!
Kyle Granger, his wife, and their crew are amazing people! We have bought a house through an actual realtor which was such a headache and when we found Kyle I wish we would have found him years ago! He made buying a house SO EASY! We loved that Kyle & his people were a phone call or text away from fixing ANY problems! If you're in the market for a beautiful home don't walk, RUN to Granger Mobile Homes in Kiowa, Ok!
Top notch experience! From them showing us trailers while we had to make pit stops to feed our bottle baby goat (we all had to laugh) to helping with minor problems inside of our new home, they made it enjoyable, personal, and full of respect! We traveled all over to find what fit for us, not only house wise, but the company too! We have no regret with this choice at all! 100% recommend Granger Mobile Home and will be sending all our family and friends here!
We bought our home from Granger Mobile Homes 4 months ago and we love it!! Kyle Granger and his staff are THE BEST!! If you are looking for a mobile home GO SEE KYLE! No one can beat his prices!!!
Our house burnt in February 24’ . We had shopped at other places for a mobile home. when we stopped at Granger in Kiowa, we instantly felt like this was the place to be. Kyle and everyone there made us feel so much better about our situation. We are so happy with our purchase. I got to pick out colors of a few different things which gave it more of a it’s our house type feel. I recommend this place to everyone I see that is shopping for a new home. They are so kind.
Kyle and his entire crew were completely helpful from the beginning to the end of my getting into my new home. He and his staff go above and beyond-even after the home is delivered and set up! Thanks Granger Homes! Y’all made the purchase and move of my home easy!
My wife and I have been shopping for a house for over 10 years now. Kyle has the best customer service and we are so happy with our choice of coming here we will not buy a house from any other place, ever.
I invite you to see for yourself just how amazing everyone here is! They take ownership and pride in what they do and your experience.
Every interaction is addressed with care, love and politeness.
Purchased a new home in the of October and beginning of November. We had it set up and we were living in it by the beginning of Dec. Fast, easy transition. All of our concerns were addressed. Kyle is easy to work with and lined us up with financing. Will buy another place from him!
Mr. Kyle and the gang at Granger Mobile Homes have been absolutely wonderful and patient with us during the whole process. Received my new mobile home in record time. They are wonderful people and truly care about their customers. You can not find better service than Granger Mobile Homes.
This was our first manufactured home purchase for my son and I. The owner was so helpful in everyway. With getting us our help to taking care of the paperwork for our land. They have a big selection of homes in all price ranges and was able to take care of all our financing needs. Kyle was very generally responsive to our concerns . He was on my speed dial. He answered every one of my calls and text and if he didnt know the answer to my questions, he would get the answer and call me back..The foundation guys were excellent. The set crew was very professional and with real quality at work. The utility contractors were very reliable at installing the power , septic and water..we had a great experience with them all.
Kyle, his beautiful family and staff are wonderful! Grainger Mobile Homes is the #1 Mobile Home Dealer in Oklahoma. Kyle prides himself in customer service and has only the BEST quality homes.
Kyle is absolutely amazing!!! He went above and beyond for my family and I. He is such an amazing person to deal with and makes sure that you don’t leave unless you are 1000% happy!
Kyle and his staff were awesome to work with and made our home buying process so easy and were there to answer any questions we had! I would recommend Granger Mobile Homes to any one looking for a great buying experience!!
Would highly recommend Granger mobile homes. Customers are always satisfied! Even after the sale they go above and beyond making sure the customer is happy!
If your looking for top notch service all all the way around !!GRANGER MOBILES HOMES!! Is the only way to go! From sales to service you can’t go wrong with these guys!
This business is very customer friendly. Super thankful for Kyle, Elainea, Tyden, and all who take care of my mom and her home she bought from them! Thank you for your courtesy and friendliness.
BEST MOBILE HOME PLACE!!! Buy your homes HERE!!!!! I’ve went to 3 different mobile home dealerships none of them could compare with the amount of respect and sweet deals I got with Kyle he was quick got me in my new doublewide very fast returned every phone call and text message that same day even if his office was closed I 1000000000000% recommend you shop here they will take very very good care of you
Granger Mobile Homes was a pleasure to work with when I purchased me single wide to downsize. They were VERY good about returning my calls and working with me to answer MY many questions about the whole process. It was a learning experience for me because this was my first experience with this type of dwelling, but Granger was right there to guide me through the process and get back quickly with me if I needed answers. Thanks for your patience and service through the process Kyle, Elaina, Elaina's hubby, delivery team, and office team! God bless!❤️
Has been a pleasure to work with the entire team at Granger. They always were friendly and helpful and went above and beyond. I will always recommend this group of people.
Not really a review of Clayton Homes but more so for Granger Mobile Homes dealership. We own property and was looking for a home to retire in. My wife found a listing for a manufactured home and called about. She was so impressed on how nice and helpful Kyle was we drove past a Clayton Homes dealer 5 miles from us (with rude and self centered people) 80 miles to Granger. It couldn't have been a better experience with the people there. I immediately liked the "good 'ole country boy" attitude displayed by Kyle. Made us feel right at home working with him. Still some hangups with our water department with getting water and septic installed but not the fault of Granger. I have called a few times since we purchased our home and he is always quick to answer and helpful. His assistant is extremely nice and helpful also always. I am horrible remembering names so hers escapes me. I couldn't recommend Granger Mobile Homes enough if you are in search of a manufactured home. You won't be disappointed. I wish I could rate them more than 5 stars.
Very friendly! Always sent updates about build time and if Kyle ever didn't know an answer to a question I had, he would figure it out. I would recommend Granger Mobile Homes for anyone wanting a new trailer!
We had the BEST experience with Granger Mobile Homes. Kyle and the entire crew were super amazing from the beginning to the end. We are very satisfied and in love with our new home!
Kyle Granger, his wife, and their crew are amazing people! We have bought a house through an actual realtor which was such a headache and when we found Kyle I wish we would have found him years ago! He made buying a house SO EASY! We loved that Kyle & his people were a phone call or text away from fixing ANY problems! If you're in the market for a beautiful home don't walk, RUN to Granger Mobile Homes in Kiowa, Ok!
Top notch experience! From them showing us trailers while we had to make pit stops to feed our bottle baby goat (we all had to laugh) to helping with minor problems inside of our new home, they made it enjoyable, personal, and full of respect! We traveled all over to find what fit for us, not only house wise, but the company too! We have no regret with this choice at all! 100% recommend Granger Mobile Home and will be sending all our family and friends here!
We bought our home from Granger Mobile Homes 4 months ago and we love it!! Kyle Granger and his staff are THE BEST!! If you are looking for a mobile home GO SEE KYLE! No one can beat his prices!!!
Our house burnt in February 24’ . We had shopped at other places for a mobile home. when we stopped at Granger in Kiowa, we instantly felt like this was the place to be. Kyle and everyone there made us feel so much better about our situation. We are so happy with our purchase. I got to pick out colors of a few different things which gave it more of a it’s our house type feel. I recommend this place to everyone I see that is shopping for a new home. They are so kind.
Kyle and his entire crew were completely helpful from the beginning to the end of my getting into my new home. He and his staff go above and beyond-even after the home is delivered and set up! Thanks Granger Homes! Y’all made the purchase and move of my home easy!
My wife and I have been shopping for a house for over 10 years now. Kyle has the best customer service and we are so happy with our choice of coming here we will not buy a house from any other place, ever.
I invite you to see for yourself just how amazing everyone here is! They take ownership and pride in what they do and your experience.
Every interaction is addressed with care, love and politeness.
Purchased a new home in the of October and beginning of November. We had it set up and we were living in it by the beginning of Dec. Fast, easy transition. All of our concerns were addressed. Kyle is easy to work with and lined us up with financing. Will buy another place from him!
Mr. Kyle and the gang at Granger Mobile Homes have been absolutely wonderful and patient with us during the whole process. Received my new mobile home in record time. They are wonderful people and truly care about their customers. You can not find better service than Granger Mobile Homes.
This was our first manufactured home purchase for my son and I. The owner was so helpful in everyway. With getting us our help to taking care of the paperwork for our land. They have a big selection of homes in all price ranges and was able to take care of all our financing needs. Kyle was very generally responsive to our concerns . He was on my speed dial. He answered every one of my calls and text and if he didnt know the answer to my questions, he would get the answer and call me back..The foundation guys were excellent. The set crew was very professional and with real quality at work. The utility contractors were very reliable at installing the power , septic and water..we had a great experience with them all.
Kyle, his beautiful family and staff are wonderful! Grainger Mobile Homes is the #1 Mobile Home Dealer in Oklahoma. Kyle prides himself in customer service and has only the BEST quality homes.
Kyle is absolutely amazing!!! He went above and beyond for my family and I. He is such an amazing person to deal with and makes sure that you don’t leave unless you are 1000% happy!
Kyle and his staff were awesome to work with and made our home buying process so easy and were there to answer any questions we had! I would recommend Granger Mobile Homes to any one looking for a great buying experience!!
Would highly recommend Granger mobile homes. Customers are always satisfied! Even after the sale they go above and beyond making sure the customer is happy!
If your looking for top notch service all all the way around !!GRANGER MOBILES HOMES!! Is the only way to go! From sales to service you can’t go wrong with these guys!
This business is very customer friendly. Super thankful for Kyle, Elainea, Tyden, and all who take care of my mom and her home she bought from them! Thank you for your courtesy and friendliness.
BEST MOBILE HOME PLACE!!! Buy your homes HERE!!!!! I’ve went to 3 different mobile home dealerships none of them could compare with the amount of respect and sweet deals I got with Kyle he was quick got me in my new doublewide very fast returned every phone call and text message that same day even if his office was closed I 1000000000000% recommend you shop here they will take very very good care of you
Granger Mobile Homes was a pleasure to work with when I purchased me single wide to downsize. They were VERY good about returning my calls and working with me to answer MY many questions about the whole process. It was a learning experience for me because this was my first experience with this type of dwelling, but Granger was right there to guide me through the process and get back quickly with me if I needed answers. Thanks for your patience and service through the process Kyle, Elaina, Elaina's hubby, delivery team, and office team! God bless!❤️
Has been a pleasure to work with the entire team at Granger. They always were friendly and helpful and went above and beyond. I will always recommend this group of people.
Not really a review of Clayton Homes but more so for Granger Mobile Homes dealership. We own property and was looking for a home to retire in. My wife found a listing for a manufactured home and called about. She was so impressed on how nice and helpful Kyle was we drove past a Clayton Homes dealer 5 miles from us (with rude and self centered people) 80 miles to Granger. It couldn't have been a better experience with the people there. I immediately liked the "good 'ole country boy" attitude displayed by Kyle. Made us feel right at home working with him. Still some hangups with our water department with getting water and septic installed but not the fault of Granger. I have called a few times since we purchased our home and he is always quick to answer and helpful. His assistant is extremely nice and helpful also always. I am horrible remembering names so hers escapes me. I couldn't recommend Granger Mobile Homes enough if you are in search of a manufactured home. You won't be disappointed. I wish I could rate them more than 5 stars.
Very friendly! Always sent updates about build time and if Kyle ever didn't know an answer to a question I had, he would figure it out. I would recommend Granger Mobile Homes for anyone wanting a new trailer!
We had the BEST experience with Granger Mobile Homes. Kyle and the entire crew were super amazing from the beginning to the end. We are very satisfied and in love with our new home!
Kyle Granger, his wife, and their crew are amazing people! We have bought a house through an actual realtor which was such a headache and when we found Kyle I wish we would have found him years ago! He made buying a house SO EASY! We loved that Kyle & his people were a phone call or text away from fixing ANY problems! If you're in the market for a beautiful home don't walk, RUN to Granger Mobile Homes in Kiowa, Ok!
Top notch experience! From them showing us trailers while we had to make pit stops to feed our bottle baby goat (we all had to laugh) to helping with minor problems inside of our new home, they made it enjoyable, personal, and full of respect! We traveled all over to find what fit for us, not only house wise, but the company too! We have no regret with this choice at all! 100% recommend Granger Mobile Home and will be sending all our family and friends here!
We bought our home from Granger Mobile Homes 4 months ago and we love it!! Kyle Granger and his staff are THE BEST!! If you are looking for a mobile home GO SEE KYLE! No one can beat his prices!!!
Our house burnt in February 24’ . We had shopped at other places for a mobile home. when we stopped at Granger in Kiowa, we instantly felt like this was the place to be. Kyle and everyone there made us feel so much better about our situation. We are so happy with our purchase. I got to pick out colors of a few different things which gave it more of a it’s our house type feel. I recommend this place to everyone I see that is shopping for a new home. They are so kind.
Kyle and his entire crew were completely helpful from the beginning to the end of my getting into my new home. He and his staff go above and beyond-even after the home is delivered and set up! Thanks Granger Homes! Y’all made the purchase and move of my home easy!
My wife and I have been shopping for a house for over 10 years now. Kyle has the best customer service and we are so happy with our choice of coming here we will not buy a house from any other place, ever.
I invite you to see for yourself just how amazing everyone here is! They take ownership and pride in what they do and your experience.
Every interaction is addressed with care, love and politeness.
Purchased a new home in the of October and beginning of November. We had it set up and we were living in it by the beginning of Dec. Fast, easy transition. All of our concerns were addressed. Kyle is easy to work with and lined us up with financing. Will buy another place from him!
Mr. Kyle and the gang at Granger Mobile Homes have been absolutely wonderful and patient with us during the whole process. Received my new mobile home in record time. They are wonderful people and truly care about their customers. You can not find better service than Granger Mobile Homes.
This was our first manufactured home purchase for my son and I. The owner was so helpful in everyway. With getting us our help to taking care of the paperwork for our land. They have a big selection of homes in all price ranges and was able to take care of all our financing needs. Kyle was very generally responsive to our concerns . He was on my speed dial. He answered every one of my calls and text and if he didnt know the answer to my questions, he would get the answer and call me back..The foundation guys were excellent. The set crew was very professional and with real quality at work. The utility contractors were very reliable at installing the power , septic and water..we had a great experience with them all.
Kyle, his beautiful family and staff are wonderful! Grainger Mobile Homes is the #1 Mobile Home Dealer in Oklahoma. Kyle prides himself in customer service and has only the BEST quality homes.
Kyle is absolutely amazing!!! He went above and beyond for my family and I. He is such an amazing person to deal with and makes sure that you don’t leave unless you are 1000% happy!
Kyle and his staff were awesome to work with and made our home buying process so easy and were there to answer any questions we had! I would recommend Granger Mobile Homes to any one looking for a great buying experience!!
Would highly recommend Granger mobile homes. Customers are always satisfied! Even after the sale they go above and beyond making sure the customer is happy!
If your looking for top notch service all all the way around !!GRANGER MOBILES HOMES!! Is the only way to go! From sales to service you can’t go wrong with these guys!
