I live nearby and I know what you are facing. Your problem is two-fold. To get a good loan you need a much newer mobile home and a permanent foundation. Then you shouldn’t have problems getting a loan.
If you want to refi ‘as is’ you must use either private money or go through a hard money loan broker. The Riverside Yellow Pages are full of them.
You have one other option that I can think of. You might just forget the mobile and go for a land only loan of, say, up to 50% LTV.
Posted by Jim Filanc on January 08, 2004 at 11:04:15:
I am looking to refinance my 5 acres of California property with a 1975 mobile home double wide with septic and well, and no permanent foundation. It is near I15 in Riverside county. I continue to have trouble finding a lender who will refinance. The property is zoned for 15 residential lots but is hilly and would cost a lot to develop. The trouble seems to be the foundation issue. Is there any way around this?
Posted by DONNA MATA on August 13, 2005 at 13:50:10:
I need to refinance my moble home and one acre of land nobody wants to refinance me this land is in Globe AZ . My rate is high thats why they dont want to refinance me