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Mobile Home Loan Refinance

Mobile Home Loan Refinance Team
UpdatedApr 4, 2007
Key Takeaways:
  • Financing a mobile home mortgage is more expensive than a permanent home.
  • Try to find an FHA-backed mobile home loan or refinance.
  • Many lenders that offered loans on mobile homes no longer do.

I need to find lender that will finance a mobile home.

My challenges: 521 credit score, need to find lender that will finance a mobile home on 2 acres of land, and current payoff of loan (which is in the ex's name) is $117,000. I have been court ordered to have the house refinanced or at least get it out of the ex's name. What are my options?

First, I encourage you to consult with an attorney to obtain a second opinion about your interpretation of the court order stating you must have your ex-spouse’s name removed from your home loan. The reason I say this is because courts generally will not order you to do something that is out of your control. You cannot force the current lender to add your name to the home loan and remove your former spouse’s name. Nor can you force a new lender to extend you a loan to purchase the home from your ex, which is what you would, if effect, be doing.

The court can, and likely has, ordered you to take over the mortgage payments if you want to stay in the home, because making the mortgage payments is something over which you have total control. Again, I find it very unlikely that the court ordered you to do something which you may not be able to do, at no fault of your own. If you already have an attorney, you should discuss the situation with him or her to find out what action is required of you under the court order. If you do not yet have an attorney, I highly encourage you to consult with one before making any decisions about how you plan to proceed in this matter.

If you find the court really has ordered you to have your ex-spouse’s name removed from the home loan, there are a couple of possible options you can explore. First, you should contact the current lender, explain the situation, and find out if the lender is willing to transfer the loan into your name and allow you to take over the payments. As I mentioned before, the lender has no obligation to transfer the loan to you, but it certainly will not hurt to call them and ask.

If the lender will not transfer the loan, a refinance may be your only option if you want to keep the home. does not lend money, we try to put home owners in contact with lenders who offer refinance loans.

Currently, your credit score is well into the “sub-prime” category, meaning that you will pay a premium for any financing you can obtain. Many lenders are also hesitant to lend money on mobile homes, which may make finding a suitable loan even more difficult. However, there are lenders out there who will work with difficult cases such as yours, so do not lose hope. If you have time to do so, I recommend that your first turn your attention to improving your credit score, so that you can obtain a loan at a better interest rate and with better terms. With diligent work, you may be able to significantly improve your credit score within 3 to 6 months. If you can find a lender now, the loan you obtain will likely be at a very high interest rate, and could possibly make the refinance impractical simply due to the prohibitive cost. Check out credit score page for information about credit scoring and ideas on how to improve your credit score.

If you would like to have a few lenders contact you, I encourage you to submit your information on the Mortgage Savings Center, which you will find at the top of every page on We will send your information to several lenders who may be able to give you a better idea of the loan options available to you. Also see the FHA Financing Manufactured (Mobile) Homes page.

Armed with information about credit and what loans you currently qualify for, you will be able to make an informed decision about the refinance and what you should expect to pay.

Again, I feel strongly the court order is somewhat flexible because you cannot force lenders to transfer your ex-spouse’s loan to you or to offer you a refinance. Before you take any further action, you definitely need to discuss this matter further with an attorney who has experience in family law to make sure you have a full and accurate understanding of the court order.

I hope that the information I provided helps you Find. Learn. Save.




FFrank Booth, Sep, 2008
I found that the people at were extremely helpful. They specialize in manufactured and mobile home finance.
WWarren Cardelli, Feb, 2008
My answer to this question would be. "I don't have enough information to answer this question accurately. When one is asking for help... help the helper and say it all. There is just too much missing information in the question. Although I appreciate the answer. in real time it is only spew.
SSandra Hill, Aug, 2007
We want to refinancing our mobile home and only put up 1/2 acre. Or what the home is on........then if something happens and we want to sell it and put another one on the same spot...would we be able to do that and how does it pay in the matter.