Are you tired of throwing away your money each month on Lot Rent?  

Whatever you call it- ground rent, lot rent, leased land... It's no fun paying for something you will never own, and it's no fun dealing with the yearly ground rent increases, especially if you're on a fixed income.

Maybe you bought a mobile home in a leased land community because you thought you couldn't afford something else. Maybe you bought it because the community had lots of great amenities but you've found you don't really use them enough to make it worth while. Maybe you didn't realize that lot rent would increase so high so quickly. Whatever the case, We can help you! Even if you don't hate ground rent, but just need to sell your leased land mobile home, we can help!

For the price of a mobile home mortgage plus lot rent, we may be able to get you into a local condo, townhouse or even single family home on land that you own!

Let's compare the cost of mortgaging a $50,000 leased land mobile home, versus mortgaging a $150,000 "fee simple" home on its own land. 
First, the $50,000 leased land home. 
Let's assume we can qualify for a loan with a 7.5% interest rate, a 20 year term, put 25% down, get insurance of about $600/yr, taxes of about $400/yr, and a modest monthly lot rent of $600. Your total monthly payment will be around $985. 
Now let's look at some typical numbers associated with a $150,000 fee simple home loan. 
We'll assume a 4.625% interest rate and a 30 year term. Many different loan programs offer a variety of down payment options, but we'll go with 7% down for this example, which is $10,500. Since we're paying less than 20% down, we'll probably need private mortgage insurance (usually .5-1% of the loan) so let's add in about $75/month for that. Let's figure taxes at $800/yr, and insurance of about $1000/yr. The total monthly payment in this scenario is $942.
 
Remember that the $150,000 home example above only requires 7% down. If you're able to put a bit more down, say $15,000, your monthly payment will be reduced to $920. Further, if you're able to do a full 20% down, private mortgage insurance will drop off, saving you $75/month, and lowering the total payment to $767. Granted, the down payment is now $30,000, but for the sake of this example, it illustrates how much your downpayment effects your monthly payment. 
No matter how you look at it, owning your own land is a good thing. The amount you pay in a monthly payment goes toward your equity rather than into your landlord's pocket or golfing addiction. Mortgage payments generally do not go up (taxes may, but Sussex County has a history of stable taxes), while lot rent payments are practically guaranteed to. 

Call or Text Loan Officer David Bryce at 302 312 7331 to discuss your credit rating, what size loan you qualify for and how soon we can get you into your new home on land you own.


Call or Text REALTOR Erica Winn at 609 313 5748 to discuss your options. She'd love to help you make an informed decision! She can help get your mobile home sold and find you a home where you own the land.  

David can get you started by running your credit numbers, getting you set up with a credit repair agency if required while Erica can get you started on a search for a new Fee Simple (own the land) property. If you're paying a manufactured home mortgage plus lot rent, Erica may be able to help you find a home without lot rent, for close to or less than the same monthly cost. And, best yet-- the money won't be going to your landlord! You'll be building equity, and your payments won't increase the way lot rent does.  

Once you find the perfect owned-land home, Coastal Mobile can help you sell your manufactured leased land home. We sold 122 homes last year (2017). Coastal Mobile charges less commission than most mobile home park sales' offices, so you'll probably save money there, too! Ask your park what their fees are, then call our team. You'll be surprised!

We're real estate agents, and licensed REALTORS®; members of the National Association of REALTORS®, the Delaware Association of REALTORS® and the Sussex County Association of REALTORS®. They aren't.

We follow a national code of Ethics. They don't.

We advertise your home on Realtor. com, Zillow .com, Trulia .com and hundreds of other real estate websites because only REALTORS® can get your home on the Multiple Listing Service (MLS). They don't have access to all the marketing places we do!

Lower Fees, Better Exposure.

Win Win!

ERICA WINN REALTOR®
Call or Text me at 609 313 5748

 

Fee Simple Mobile Homes for Sale in Southern Delaware May 23, 2019
110
Listed
91
Avg. DOM
$121.61
Avg. $ / Sq.Ft.
$149,950
Med. List Price
111 Properties Found. Showing 1-12
Sort By:
30295 E Trap Pond Rd
Laurel, DE 19956
30295 E Trap Pond Rd Laurel, DE 19956
1 of 45
$399,000 ( $26,000 )
Subdivision: N/A
BEDS
3
BATHS
2
SQ.FT.
1,960
BUILT
1996
ON SITE
138Days
MLS
DESU128764
No description available...
38825 Tyler Ave
Selbyville, DE 19975
38825 Tyler Ave Selbyville, DE 19975
1 of 24
$375,000
Subdivision: Cape Windsor
BEDS
3
BATHS
2
ACRES
0.1
BUILT
1998
ON SITE
3Days
MLS
DESU140696
Canal front home with a nice view of the Assawoman Bay from your private dock. The living room is large, bright and overlooks the canal and bay water view. Separate dining room, community pool, and...
11324 Circle Dr
Seaford, DE 19973
11324 Circle Dr Seaford, DE 19973
1 of 31
$350,000
Subdivision: Seaford
BEDS
3
BATHS
2
SQ.FT.
1,700
BUILT
N/A
ON SITE
86Days
MLS
DESU133000
Are you looking for a horse farm? Look no further, great opportunity to own approx 10 Ac horse farm just 35 minutes from Rehoboth Beach. Once used for a fully operational training and boarding...
11546 Adamsville Rd
Greenwood, DE 19950
11546 Adamsville Rd Greenwood, DE 19950
1 of 64
$349,900
Subdivision: N/A
BEDS
3
BATHS
2
SQ.FT.
2,040
BUILT
1999
ON SITE
13Days
MLS
DESU140158
Meticulously maintained 3bd 2ba and totally renovated home with many new modern upgrades all awaiting the new owner. Home has a remodeled kitchen and baths, new carpet and flooring in the kitchen and...
404 Dupont Ave
Lewes, DE 19958
404 Dupont Ave Lewes, DE 19958
1 of 3
$329,900
Subdivision: Burtons Subdivision
BEDS
2
BATHS
2
ACRES
0.09
BUILT
N/A
ON SITE
48Days
MLS
DESU137444
2 bedroom 2 bath Mobile home in desirable location. Enjoy the many conveniences of living in Lewes. Spend some relaxation time at the beach. Enjoy the many historic attractions, restaurants and...
37084 Canvasback Rd
Selbyville, DE 19975
37084 Canvasback Rd Selbyville, DE 19975
1 of 11
$300,000 ( $20,000 )
Subdivision: Swann Keys
BEDS
4
BATHS
2
SQ.FT.
1,690
BUILT
1989
ON SITE
146Days
MLS
DESU128472
Location Location!! Oversized lot with great canal views. Enough room to dock two boats +. Carport on property, as well as, a Storage Shed. Only 2/12 miles from the ocean! Convenient to a variety...
30008 Arrowhead Dr
Ocean View, DE 19970
30008 Arrowhead Dr Ocean View, DE 19970
1 of 16
$299,900
Subdivision: Pine Crest Terrace
BEDS
3
BATHS
2
ACRES
0.21
BUILT
2006
ON SITE
109Days
MLS
DESU131292
Enjoy Summer fun from your front porch! Well maintained, canal front Class C home on nearly a 1/4 acre. Located in the quiet community of Pine Crest Terrace in Ocean View. Some of the homes features...
30907 Frankford School Rd
Frankford, DE 19945
30907 Frankford School Rd Frankford, DE 19945
1 of 13
$299,900
Subdivision: N/A
BEDS
3
BATHS
2
ACRES
3.69
BUILT
2002
ON SITE
66Days
MLS
DESU134514
Excellent opportunity for a buyer looking for acres of land! This property is over 12 acres. It includes 3.69 acres with an attached parcel of 8.69 acres The property has a 3 bedrooms, 2 bath home...
867 Sugar Stick Rd
Harrington, DE 19952
867 Sugar Stick Rd Harrington, DE 19952
1 of 42
$299,900
Subdivision: N/A
BEDS
4
BATHS
2
SQ.FT.
1,728
BUILT
1996
ON SITE
9Days
MLS
DEKT228620
23 Acres of peaceful bliss! Looking for a farmette? Fencing, trails, and pastures. A beautiful stocked pond and lots of road frontage. The property sits nestled in the woods off the road. This home...
28506 Sussex Hwy
Laurel, DE 19956
28506 Sussex Hwy Laurel, DE 19956
1 of 18
$299,500
Subdivision: N/A
BEDS
3
BATHS
2
SQ.FT.
1,600
BUILT
1986
ON SITE
29Days
MLS
DESU137884
Great Business Opportunity!! Located on Rt 13 with a 175 feet of road frontage. Zoned Commercial This property is operating an existing business with 2 over sized garages, 2 sheds and a 2 car...
36949 Blue Bill Dr
Selbyville, DE 19975
36949 Blue Bill Dr Selbyville, DE 19975
1 of 34
$295,000
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,456
BUILT
1995
ON SITE
11Days
MLS
DESU100580
A lovely waterfront home. This well-maintained home has approximately 50 feet of private bulkhead for docking your boat & other water related toys. There is a large sunroom & deck just steps from...
8 Cristeen Ct
Lewes, DE 19958
8 Cristeen Ct Lewes, DE 19958
1 of 49
$285,000
Subdivision: Hidden Oaks
BEDS
3
BATHS
2
SQ.FT.
1,344
BUILT
1994
ON SITE
46Days
MLS
DESU137780
Excellent opportunity to own a solid Nanticoke modular home in the tranquil community of Hidden Oaks in Lewes. Lovely home on a one street community with no through traffic, east of Rt 1 and close to...