I'm looking to purchase a mobile home on lease environment do they clutch lot rent into information when decide mortgage
Answers:
No they do not consider the lot rent.
How much are you planning to pay for the home?
Is it a 3br or 2 br?
What year be it built?
Has it been inspected?
it will be considered. the lenders will want to weigh your ability to repay them.
To get a mortgage on a mobile home, the mobile home must be de-registered (meaning, you can never move it from the land, and it become permenantly part of the land itself). If the lease is for 99 years, it's not a problem. Monthly rental? Big problem.
To qualify for any mortgage or loan, adjectives of your monthly expenditures are taken into consideration in order for you to qualify. Good luck!
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