Mobile Home Loans

Mobile Home Loans & Financing

News Flash!! – New Horizon Mortgage Concepts is now providing Financing for Mobile & Manufactured Homes built before June 15, 1976!! In addition, this Financing is available in Communities where you don’t Own the Land (i.e. Space Rent Parks) and without a Permanent Foundation and 433a.

New Horizon Mortgage Concepts understands the nuances of providing Financing for Mobile Homes. If you ask different people what the difference is between a Mobile Home and a Manufactured Home you’ll most likely get a variety of answers. Simply put, a Mobile Home is “mobile” because it’s not secured to a Permanent Foundation…so in reality a Mobile Home is “Personal Property” rather than “Real Property”. In order for New Horizon Mortgage Concepts to provide Financing  for a Mobile Home, a Permanent Foundation must be installed prior to the Loan Funding. By securing a Mobile Home to the Lot it’s located  on (via a Permanent Foundation)…the Home is transformed into “Real Property”. Another way to look at it is that the Home and the Land are now Valued and Taxed as one entity.

One of the most important occurrences in the evolution of Mobile Homes was the institution of specific Building Standards required on all Homes built after June 15th, 1976. Once these new Building Codes were in place, Lenders were much more comfortable providing Financing for Mobile / Manufactured Homes because they knew the Homes were all being built to the same consistent standard. This opened the door for all kinds of Financing options that were not previously available for Mobile Homes and New Horizon Mortgage Concepts is able to make all of these Programs available to Mobile Home owners.

California Department of Real Estate License #: 01408373

NMLS ID: 329381