Mobile homes are included under the category of real estate. Hence, companies that provide home loans also provide loans on mobile homes. However, the requirements and natures of these loans are slightly different than loans given for fixed homes.

Some companies require mobile homes to be fixed to the ground in order to provide loans for them. This includes removing the wheels, axles and hitches of the homes. Such requirements are called foundation requirements. Lending companies usually put this requirement in order to secure themselves by creating fixedness for the property. An extreme requirement for this is to affix the entire home on a concrete foundation. This is also a usual demand by lending companies.

Mobile home loans are of two types. There are loans that are provided for the home itself; and loans that are provided for the home along with the land on which it is erected. Loans provided for the home itself provide money for the construction, including the costs of all building materials required. These loans do not provide for transportation charges and the taxes involved in it. Loans for the mobile home alone are usually taken by people living in mobile home community parks and other such temporary arrangements. Actually, these loans are deemed highly dubious by lending companies. The very fact that mobile homes are movable increases their insecurity about the money lent. Many banks and lending organizations have today completely stopped writing loans for mobile homes without land.

It is comparatively easier to get a loan for a mobile home with the land on which it is installed. These loan amounts are higher, because they also provide for the price of the land. Again, these loans do not provide for the taxes that may go along with the land.

Whatever be the kind of loan, none of them are disbursed if the mobile home fails to meet the HUD code of construction. Similarly, it is very difficult to obtain a mobile home loan if the borrower has a bad credit rating.

Financial organizations normally provide 75 to 90 percent of the total cost of building the house. Mobile home mortgages are usually long-term mortgages for periods generally above 10 years.