Other Advantages of Owning a Lot:
• Greater availability of financing and refinancing options from a larger pool of lenders;
• Ease of obtaining home appraisals, which are generally required when refinancing;
• The possibility to get your property listed for sale by real estate agents or brokers, which may help you sell your home sooner – this is specifically important in the states that prohibit personal property to be listed for sale;
• Relatively steady market value, tax benefits and consumer protection laws.
Keep in mind that all manufactured housing is not considered real estate, which is required to qualify for a traditional home loan. If the mobile home you are considering buying is at least 400 square feet, on an approved foundation and taxed as real property, you can apply for conventional or government-backed mortgages.