Mobile Home Owner Frequently Asked Financeing Questions
How much of a down payment will I need?
That depends on your monthly payment, your income and the price of the mobile home. However, a range can be as low as $500 or up to $3,000 for most of our mobile homes. A normal down payment is at least 10%. Remember, we can accept borrowed funds and can give you up to 45 days to make the down payment. Keep in mind - the more you put down, the lower we can make your monthly payments.
Who pays the Property Taxes?
You will be responsible for the property taxes since you will actually own the mobile home. You will have local (or spring) taxes as well as school (or fall) taxes. These are determined by the accessed value of your mobile home and are normally very reasonable. We will be able to provide you with tax information on the mobile home.
Who pays the Insurance?
Insurance will be your responsibility. We will be able to tell you the exact amount of insurance you will need for the mobile home. We can also put you in touch with a good agent to obtain coverage. Most policies can be started for a nominal down-payment. We will be listed as the lienholder until the mobile home is paid off.
Can I pay extra on my payments or pay the mobile home off early?
Yes. Any additional payments will be applied directly to the principle of the loan. If you decided you would like to pay the loan off early, we offer a discount on the balance.
What kind of improvements can I make?
This will be your home. You can make any improvements, however, we require that you check with the park manager, obtain any required local permits and follow the proper building codes.
How are utilities handled?
Some utilities may be included with your lot rent. We require that any utilities not included with lot rent be switched into your name prior to moving into the property.
Who pays the lot rent?
The lot rent will be your responsibility. Depending on the park, you may pay it directly to the park manager or we may collect it from you on their behalf.
How soon can I move into one of your mobile homes?
If you are interested, please fill out on of our applications and return it to us as quickly as possible. Our properties do not last long!
Your Program is Unique, should I tell others?
We provide a $100 finder's fee to you if you refer someone to us that either sells us a mobile home or buys a mobile home from us.
What if I have additional questions?
You can contact us at the following:
Big Housing Solutions
724-865-7845
