Can you get a mobile home loan with bad credit?

You can secure a mobile home loan with bad credit, but you may face very difficult processes and high interest rates. Any time you seek an installment loan, such as a mortgage or mobile home loan, your credit will directly impact the quality of the loan you receive.

If you have bad credit, your mobile home loan application may be rejected by most traditional lenders. This would force you to consider applying with high-risk lenders. These lenders finance bad credit borrowers, but they do so at an increased cost to the borrower. It may be wiser to rent or lease a property until you have high enough credit to get a traditional or FHA-approved mobile home loan.

Ref : www.loan.com