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, Erica can help you sell your manufactured leased land home. She sold 73 homes last year, and 59 were on leased land in Pot Nets, Angola, and more. 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 July 18, 2018
62
Listed
78
Avg. DOM
$138.79
Avg. $ / Sq.Ft.
$154,200
Med. List Price
62 Properties Found. Showing 1-12
Sort By:
115 Beach Plum Dr
Milford, DE 19963
115 Beach Plum Dr Milford, DE 19963
1 of 36
$430,000
Subdivision: Slaughter Beach
BEDS
3
BATHS
2
SQ.FT.
1,650
BUILT
2000
ON SITE
1Day
MLS
1002014080
Nestled on the Delaware Bay, this 3-bedroom, 2-bathroom beachfront property has a breathtaking panoramic view and quaint, quiet atmosphere. The open floor-plan is ideal for both relaxation and...
38771 Tyler Ave
Selbyville, DE 19975
38771 Tyler Ave Selbyville, DE 19975
1 of 26
$389,900
Subdivision: Cape Windsor
BEDS
3
BATHS
2
SQ.FT.
1,150
BUILT
2001
ON SITE
9Days
MLS
1002013544
Lovely waterfront home in Cape Windsor. Home offers three bedrooms, two baths, eat in kitchen, large deck, extra large storage shed with electric and fully furnished. Community offers playground,...
38802 Wilson Ave
Selbyville, DE 19975
38802 Wilson Ave Selbyville, DE 19975
1 of 6
$349,900
Subdivision: Cape Windsor
BEDS
4
BATHS
2
ACRES
0.1
BUILT
1975
ON SITE
15Days
MLS
1001872478
Fantastic opportunity to Build your Dream Home in coveted Cape Windsor. Waterfront Canal lot is only 7 lots from the Open Bay. Property is in Tear-Down condition. Entry into the property permitted...
37053 Pintail Dr
Selbyville, DE 19975
37053 Pintail Dr Selbyville, DE 19975
1 of 30
$339,900 ( $10,000 )
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,680
BUILT
1980
ON SITE
121Days
MLS
1001571422
Enjoy spectacular views of the wetlands and open bay while sitting on your porch. This home is the last home on the block! Watch the waterfowl from the deck of this Class C mobile. The sunsets will...
19711 Norwood St
Rehoboth Beach, DE 19971
19711 Norwood St Rehoboth Beach, DE 19971
1 of 2
$310,000
Subdivision: N/A
BEDS
2
BATHS
1
SQ.FT.
980
BUILT
1995
ON SITE
174Days
MLS
1001568482
GREAT PARCEL FACING HEBRON ROAD, SHORT BIKE OR WALK TO REHOBOTH AVENUE, RESTURANTS, SHOPPING, ENTERTAINMENT, (REHOBOTH JAZZ FESTABLE) NOW BECOMING THE MOST VISITED JAZZ FESTABLE OF THE EAST COAST...
37015 Laws Point Rd
Selbyville, DE 19975
37015 Laws Point Rd Selbyville, DE 19975
1 of 42
$285,000
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,560
BUILT
2001
ON SITE
16Days
MLS
1001946090
Enjoy waterfront living at its best! Dock your boat right outside this large 3BR/2BA well maintained home with large sunroom . Swann Keys has an outdoor pool, basketball, playground, mini golf,...
36951 Laws Point Rd
Selbyville, DE 19975
36951 Laws Point Rd Selbyville, DE 19975
1 of 37
$254,900
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,200
BUILT
1990
ON SITE
15Days
MLS
1001901444
Enjoy waterfront living at its best! Dock your boat right outside this large and well maintained home with large sunroom and screened porch. Deck area with Tiki type bar. Vaulted ceiling, open floor...
32499 Blackwater Rd
Frankford, DE 19945
32499 Blackwater Rd Frankford, DE 19945
1 of 28
$245,900
Subdivision: N/A
BEDS
3
BATHS
2
ACRES
0.96
BUILT
2004
ON SITE
15Days
MLS
1001800162
Looking for private paradise this is it! This class c home offers 2 bed 2 bath plus a 3rd bedroom or office(no closet), large kitchen, back porch has a pellet stove and a/c. Pole building style...
37033 Laws Point Rd
Selbyville, DE 19975
37033 Laws Point Rd Selbyville, DE 19975
1 of 12
$236,900 ( $23,100 )
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,456
BUILT
1994
ON SITE
174Days
MLS
1001568888
Seller motivated, PRICE REDUCED! Canal front home offers waterfront living at its best. This 3 bedroom, 2 bath home boast a large master bedroom suite. Open floor plan ideal for entertaining family...
36954 Laws Point Rd
Selbyville, DE 19975
36954 Laws Point Rd Selbyville, DE 19975
1 of 12
$230,000 ( $15,000 )
Subdivision: Swann Keys
BEDS
3
BATHS
2
SQ.FT.
1,120
BUILT
2005
ON SITE
174Days
MLS
1001568934
Seller motivated, bring an offer. Price reduced! Waterfront! Tie your boat up in your own back yard. This home offer three bedroom, two full baths with a large Master Bedroom suite. Open floor plan...
32299 Valley Ct
Dagsboro, DE 19939
32299 Valley Ct Dagsboro, DE 19939
1 of 28
$229,000 ( $30,000 )
Subdivision: Waverly
BEDS
3
BATHS
2
SQ.FT.
1,820
BUILT
2002
ON SITE
174Days
MLS
1001569192
Wow! This home looks Brand New! Extremely nice interior with spacious large open floor plan, family room, split floor plan for Master Suite Privacy. Wonderful for entertaining and gatherings....
2056 N Ramblewood Dr
Rehoboth Beach, DE 19971
2056 N Ramblewood Dr Rehoboth Beach, DE 19971
1 of 19
$214,500 ( $20,500 )
Subdivision: Fieldwood
BEDS
3
BATHS
2
SQ.FT.
1,400
BUILT
1977
ON SITE
174Days
MLS
1001569000
Located just 4 miles to the Rehoboth boardwalk, and with the State Park hiking/biking Wolfe Neck trailhead nearby, it makes this property ideal as a vacation retreat...or live here year-round to...