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can you get a reverse mortgage on a mobile home in oklahoma it's totaly paid for

by burnett1d575 from , California. Apr 14th 2017 Reply

Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

Generally, if you have a mobile home built after 1976 in good condition with a permanent foundation (pay property taxes as you own the property under it) you can be eligible for a reverse mortgage. Determining qualification would be based on your age starting with the minimum qualifying age of 62 and amount of equity you possess, which in this case sounds like you possess all of it.

Apr 14th 2017
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

More info needed. but in general.. for mobile home financing, the property must be "Real" property.. in other words..the home must be architecturally attached to the ground and be classified by the county as "Real Property".. you must own the land the home sits on, the axles removed and the home "Ground set".. If this is your scenario, then yes.. it's possible to get a reverse mortgage on this type of property.. but because it's a manufactured home, then the amount of lenders out there that do them are limited.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 17th 2017
Sara Deere (Mortgagequeen2)
#16 ranked lender in Missouri - 597 contributions

The mobile home must also be your current primary residence.

Apr 19th 2017
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