| The process to secure a mortgage for a mobile home | | | | area that these lenders do business. These |
| is not nearly as cut and dry as it is for a traditional | | | | associations are great for monitoring business |
| home. Mobile home mortgage lenders are not | | | | practices of its' members and reporting any and all bad |
| regulated by the government and are usually individuals | | | | business practices. It the mobile home mortgage lender |
| or investment groups that make a business by loaning | | | | you are working with isn't a member, find out why. |
| money to people who are purchasing a mobile home | | | | The Better Business Bureau is a great resource as |
| and living in it as their primary residence. | | | | well. What is their rating and how many complaints |
| Because of the lack of regulation and the relative lack | | | | have they received? Even more importantly, how |
| of competition, (compared to the amount of | | | | many of these complaints were left unresolved and |
| competition between traditional lenders), manufactured | | | | how many were taken care of. Remember, all |
| home lenders charge inflated interest rates, closing | | | | businesses receive complaints. It's how they handle |
| costs, and fees. It is important to find a reputable lender | | | | them that is most important. |
| of this type to ensure that you receive the best deal | | | | How long has the company been making loans? Most |
| possible. | | | | of these lenders will offer testimonials and the |
| The number one thing to look for is involvement in | | | | opportunity for you to contact and talk to current and |
| mortgage brokers and lenders associations in the local | | | | previous borrowers of theirs. |