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If you are looking to buy a mobile home or a manufactured home the first thing you need to know is that the process is going to be a bit different than getting a regular home loan, even the bad credit mobile home refinance loan process is going to be different. The reason that they are going to be different is that with a mobile home loan you have two basic types of loans to choose from, which one you choose will determine what process you have to go through.

The first type of loan is a mobile home mortgage loan and is for people who are buying the mobile home or manufactured home with a permanent foundation. With this type of loan, you are buying both the land and the home. The second type of loan is a personal property loan, which allows you to buy just the mobile home or manufactured home that is located on a rented lot, such as in a mobile home park.

No matter which type of mobile home loan you plan to use you will get your best interest rates with a credit score of 620. However, just like unsecured credit cards for bad credit you can qualify for the loan with a lower credit score. If you do have a lower credit score, you will pay higher interest rates. You will also have to meet all of the other conditions of the loan.

Another condition that you need to keep in mind is the down payment, no matter what your credit score is you will be required to come up with a down payment. How big of a down payment you are going to need depends on your credit score, the size of the home you are buying, and the type of loan you are using. Most lenders require a 10% down payment, but some will go down to as low as 5%.