What type of loan do I need to purchase 5 acres of land with an older model mobile home on the land?

Nov 092010
 

What type of loan do I need to purchase 5 acres of land with an older model mobile home on the land?
I can’t get a loan on the mobile home because of the age of it. I need a loan to buy the land and existing structures on the land – a mobile home and pump house.
I am currently living in the mobile home on the land and need the loan to buy it from the seller – currently my landlord because I am paying rent until I can purchase it.

Best answer:

Answer by Billy Cunningham
chances are you will need atleast 25% down to do so. Cause the house is of nominal value.

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