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How to Buy a Mobile Home in California

August 17th, 2020

Mobile homes, also referred to as manufactured homes, are economical alternatives to traditional residential properties, and are growing increasingly popular in California. Like any major investment, purchasing a manufactured home requires prior research and homework. And if you're considering buying one, you've probably wondered about the many factors that need to be considered before you seal the deal. This brief guide can help you understand how to go about buying a mobile home.

Decide on the Type

Mobile homes commonly come in three styles:

  • Single-wide units that are long and narrow and don't have hallways.
  • Double-wide units that are nearly twice as large as single-wide homes, and have hallways connecting some of the rooms.
  • Triple-wide units that come with three or four bedrooms connected by hallways.

Depending on the number of people who'll be moving in, you can pick the kind that's best for you.

Determine the Appropriate Price Range

The price of the property depends not just on the size, but on a number of other factors like the location, the inbuilt amenities and the facilities, the age of the mobile house, whether it is a new property or a used one, and even on the quality of the walls, floors, and plumbing. Too often, homebuyers make the mistake of landing a deal that seems like a steal, only to discover that the home needs repairs and upgrades that turn out to cost more than expected. So, when you're setting your budget, you need to consider the possible future expense as well.

Finding the Location

If you're buying a mobile home in the suburbs, you're more likely to get a deal that includes both the land and the home. However, if you prefer to purchase a mobile property in an urban area, it may be a better option to take the land for your mobile unit on rent. Also, you need to verify that the location you pick has adequate space to accommodate your mobile home, and a little extra space to spare (if you're someone who likes a personal backyard). Another important aspect to look into is the slope of the land. If the land is not even, you may be facing additional cost for leveling the ground before installing your home.

Financing your Purchase

While obtaining a home loan for a conventional property is often pretty straightforward (depending on your credit), the rules involved in financing the cost of a mobile home can be different. Typically, large banks may not fund the purchase of mobile properties but we do.

Once you've figured out the type of home you need, the location you want, and the price you're willing to pay, the next logical step is to choose a mobile home manufacturer (or a dealer, if you're planning on getting a used unit), select the floor plan, and most importantly, obtain a warranty on your home if you can. Then get ready to buy a great home and contact us for financing.

See if a Mobile Home is Right for You — And Contact Us to Get A Loan!

At Community West Bank, we specialize in manufactured home loans in California. If you’re interested in a mobile home and need a loan, please contact us. We’re happy to discuss your options and ensure you get the best loan for your needs and budget.

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