Are you one of the many people with bad credit? Still need a mobile home loan even though you know your credit is bad? There are lenders who are willing to work with those with bad credit and more lenders are lowering their standards due to a lack of good credit customers. Here are a few different options when it comes to bad credit mobile home loans.

First of all, you better take the bank out of the equation because you won’t get anywhere with the bank unless you have good credit. They won’t even consider it unless you have a credit score of 650 or better. So cross banks off your list unless you have a sizable retirement account or other investment you can borrow against.

Second, you can use an unconventional lender, but they are a bit hard to find. Know that if you start looking for a loan and are repeatedly turned down by mortgage companies because his house is a mobile home, then you should keep trying. Not all mortgage companies or lenders will work with mobile homes and some will only work with you if you own the land it is on. Just be patient and honest with the lender and you will find the right one for you.

Your last option is to go the buy here pay here route. This is good for those of you who have such bad credit that no one else would even think of helping you. Buy here pay here mobile home parks will accept any type of credit and give you a bad credit mobile home loan without any hassle. Just make sure you pay on time, and expect to pay a much higher interest rate than if you used a lender.