Buy Land

I'm looking to buy a piece of land, buy a trailer from a friend of mine once built his house, then put the trailer on the ground. The lot is 30,000 U.S. dollars, the trailer will probably be around $ 10,000. And I need to have a septic system and well done as well. How do I obtain a loan from the bank? I'm not much of a deposit.

its really no different than if it was a house purchase. you find a lender who takes a mortgage on your type of operation. they usually want a larger down payment on a mobile home agreement

It is difficult to obtain a mortgage on a vacant lot, and it is difficult to obtain a mortgage for a mobile home. With tanks, thus, closing costs, etc. You are looking at about $ 50,000. If you can get a mortgage for 10 years for $ 30,000 of that, you will be well.

You need more down payment. And make sure you have enough for all your closing costs or you will pay interest on everything in the years to come, and it just makes it more difficult to get approved.

The first thing you do is check the zoning of the land and make sure you can put a trailer on it and then check that you can put a septic tank on the property. Without either of these two conditions you may find yourself with a mess on your hands.