Introduction to Mobile Home Financing. 1st thing you MUST do! Mobile Home Masters

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hey everyone chance prior-year thank you

for clicking on this video this is

mobile home masters here and we're

starting a brand new series today and

today's video is gonna be about the

introduction into mobile home financing

so let's go


okay so if you're subscribed to our

channel you know what we post a lot of

videos about mobile home tours well this

video today is a start of something that

we even want to do for a long time and

well it's finally happened I'm really

excited about it and so go ahead if you

would get there like but we really would

appreciate it if you do enjoy this video

but what I wanted to say before we get

into that she'll move on fine and start

talking about things we want to make a

lot of videos like this actually I have

a I have a lapel mic order so the audio

will be a lot better on the next video

but I want to go ahead and start this

introduction and get things rolling but

what I wanted to say is drop us a

comment with maybe some questions that

you have about mobile home mobile home

finance and it doesn't have to be next

for the finance they can be anything too

pertaining with a mobile drop a comment

on this video and we're gonna be going

through those comments removing making

videos around those certain questions so

we can help you guys

it just helps us to be able to know you

know what to talk about what you guys

would like to know okay and so for the

first part of this series we're just

gonna have an introduction I'm going to

talk about some of the videos that

you're going to be expecting and then

we're going to hop into the very first

things you need to be working on to get

this process going so I'm taking it if

you're watching this video maybe you

smell some knowledge on mobile home

financing or maybe you are going to

start the process of purchasing yourself

a mobile home which we really are

excited about you taking this leap and

doing this so we're gonna be talking

about the different loans you can get

through you know mobile home lenders

there are several different loans out

there available and we want to make

videos breaking down each one of them so

we can really dive into each loan and

you know exactly what each one means and

what kind of everything that has to do

with them okay so there's home only

loans there's you know if you purchase a

land home with a home owned land there's

a land in loot loan word you can take

your lane and put your land up for your

down payment there's

FHA loans there are several others and

we're gonna may be making videos around

each one of those so stick around and

pin him when your wife to Ameri have

some of those up and you can find those

videos on the channel we're going to be

talking about credit scores with each

one of those loans and I see a lot of

comments and questions about what's your

credit after being all this and that so

we're gonna talk about those things in

those videos about each loan so you'll

know kind of what the credit has to be

the different rates you can get

depending on your credit now we're just

going to be able to estimate those

things because banks give different

rates and everything but you'll be able

to step out there when you go to

purchase your home you'll be able to

have a really good understanding what to

look for and you know kind of what

you're up against

so that's some of the videos that are

coming up but today we're gonna talk

about that first step into the process

into the introduction of mobile home

finance and then what it takes and what

you need to do okay so we're gonna say

that hey you've been watching some of

our videos mobile home masters you've

been toured some of our houses by the

way we really do appreciate you watching

those videos and I always drop us a

comment let us know maybe what you'd

like to see or you know what you liked

about the home or don't like about the

home that's fine too but we enjoy

reading you guys kind of anyway

you're looking at the house did you see

something that you like and you think

you know what this mobile home process

may be for me well let's talk about the

first thing that you need to do if

that's where you're at so you seen the

houses on the videos or online you're

like look well maybe I need to go to the

dealership and I need to start looking

at some of these houses well I'm gonna

take something to do before you even go

to the dealership and you said well I'm

already been a little well that's

fine I'm just saying general rule of

thumb this is what I would do if I was

starting the process today and that is

having your land situation figured out

and I know to me this sounds like well

yeah obviously but there's a lot of

times a lot of customers that we see

coming into our dealership that do not

have this figured out and they're

potentially looking at houses that

they're gonna fall in love with but

they're not able to purchase because I

don't have our land situation figured

out so there's four different

possibilities with your land that you

can do with a mobile home I'm going to

talk about all four of those

so let's not mess around the number 1 is

going to be the land that you own now

you've got to understand that we're

gonna be taking the home that you're

purchasing and taking it and putting it

on land for you okay so you've got to

have the land but this is land that you

personally owned yourself this home can

be paid for or this home can still have

a lien on it either way this home is in

your name now if the land is in your

name you're able to use 80% of that

lands value for down payment on the

purchase of your home if you want to use

land Nath Elena's not paid for you can

still set the home on the land but

you're not able to use the land for your

down payment now the number one that is

the most common one that we see people

come in at our dealership they have

their own land in their name but it may

or may not be paid for but there are

several others that maybe you haven't

thought of that I want to reveal to you

today and number two would be family

land now this is letting that you don't

this may be your parents land this may

be your grandparents land this may be

your uncle aunts land this is somebody's

land that's in your family but it's not

sure all believe it or not you can still

set your home that you're purchasing up

on this land even though it's not in

your name now you're not able to use

this land for down payment what you can

do is you can get a land lease waiver

agreement signed where the where the

land owners of the land say it's okay

for you to put your home there and you

can put your home on this property so

that's another option for you if you

don't have land yourself and I know I'm

kind of swimming through these this is

my first video so yeah I'll just bear

with me and hopefully I'll be able to

get better at this but number three I

want to talk about land that you're

purchasing so maybe you have found some

land but you haven't purchased it yet

and you want to take the land and put it

with a home now this is possible you

have two different options when you do

this number one you can take the land

that you're purchasing and then you can

find the home that you're wanting and

you can combine these two for one loan

now when you do that you got to have the

percentage down on both of those

combined remember that or you can simply

purchase the land cash outright or you

can get a loan on it as well and then

find the home that you want and get what

my home only loan on the whole at your

purchase as far as which one is better

we're gonna start talking about more of

that in the upcoming videos when we

break down each loan but I just want to

show you the different options you have

with your land

and then number four that I want to talk

about today is one that I'm not just

totally - totally familiar with but I do

know we have those before and it is

possible and that is if you're putting a

home inside a mobile home park now this

is possible you would be able to do that

and you can still finance that home the

only thing is you're gonna have to get

with obviously the park and you're gonna

figure out what requirements they have

they may only require double wides or

triple odds or who knows there's really

no way for me to tell you but what you

need to know is you need to get with the

part that you're intending on putting a

home in before you start looking at the

house so you know what you're up against

when that but you can't do that you can

take it home you can put it inside a

mobile home park and still totally 100%

fine and it's the mobile home so I

wanted this introduction video to be all

about you and your land because I can

tell you this I would T totally have my

land situation figured out before I ever

went to a dealership or started looking

at homes now I'm not talking about

watching videos on that's totally

awesome and we actually encourage that

but what I'm saying is before you start

going to dealerships and you start

walking through a bunch of houses and

falling in love with these certain homes

that you want to purchase but when it

turns out the land or the property that

you're getting or the press getting you

not able to set that hold in there and

that's going to create a problem for you

so I'm just telling you if I was you and

I was starting to process number one I

would have my land situation figured out

now I also want to mention if you don't

have septic power water any of that on

the property that you have that's okay

because any of that can be financed and

depending on the loan that you do and

then also you know the dealership may

include some of this for you as well so

you just have to talk with them in the

process of you purchasing your home what

I'm saying is have your land situation

figured out it's where you're planning

to put this home so once you have your

what you figured out guess what you're

ready to start taking on this mobile

process and so some of our next videos

we're gonna do we're gonna be sitting

down with some of the other people in my

company and we're gonna be digging into

these loans and kind of figuring out

exactly what's gonna work best for you

now I'm not gonna be able to post these

videos every other day like I have the

tours but we're gonna try to sprinkle in

maybe once a week once every two weeks

so be looking for them and what I would

encourage is share these videos with

other people that you know are in the

process of purchasing a home that really

helped us out a lot well guys this has

been our introduction in a mobile home

finance so we're gonna dig really really

deep but I just wanted to make this

introduction video so we so we can

connect here and you guys can see what

we're trying to do so be sure and drop

us a comment with any questions that you

have because we you know we want to make

videos on the only questions that you

have be able to help you guys along the

way of your whole purchase process but

if you have enjoyed be sure to the like

button and you never check out our

channel what we do is we post a lot of

mobile home content mostly tours at this

point but I won't start putting a lot of

this stuff in there so if you enjoy

smash that red subscribe button and we

really would appreciate it and I'll see

you on the next video thanks for

watching guys