Do you need good credit to buy a Mobile Home?

Do you need good credit to buy a Mobile Home?

I've been selling Mobile Homes at the Beach for 15 years. In that time I've had dozens of people tell me their credit score does not matter because they can pay cash for the home. Unfortunately they are wrong. To live in the local leased land Mobile Home communities you must pass pretty stringent credit and background checks.  Most of the local leased land Communities are owned by big businessmen in far off cities like Chicago and Atlanta, they don't care what your story is, they are like robots with set rules. If your numbers meet their criteria you get in, if they don't you won't. 

Remember that we here at Coastal Mobile are just REALTORS, we are not the Community Managers or Community Owners and have no say whatsoever in who is or is not approved. 

If your credit scores are low, but you have $20,000 to $40,000 to spend on a Mobile Home at the Beach, I hate to be the one to crush your dream. Even though you can afford the cash to buy the house, the community management won't let you move in without good credit. 

There are companies out there that can help you improve your credit and claim to increase it significantly in just six months to a year. 

Believe it or not, it can be easier to obtain a loan/mortgage for a regular house or condo than it is to be approved for a leased land mobile home at the beach. I've had many people rejected by the local mobile home communities who go on to obtain a loan for a regular house or condo. Often, the price of a mortgage on a regular home will be about the same monthly bill as ground rent + a mobile home loan. Just food for thought, if you don't need all the ammenities or location that a leased land mobile home community offers, you may be able to buy a regular stick built home or condo for a similar monthly payment.  Click here to view affordable condos, townhomes and single family homes that can be easier to be approved for then mobile homes in leased land communities.