• Question
  • can I get a reverse mortgage on a mobile home

    Asked by someone from Groveland, CA on 8/14/2017

    I fully own a mobile home built in 1980 on a permanent foundation I am 68 . What companies will do a reverse on a mobile? How do I contact such a company and how long should such a process take? Thank you

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  • Categories: Manufactured Homes, Reverse Mortgages

Answers

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  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • If your mobile home meets FHA guidelines and you have enough equity then you should qualify.

    You can read more about the guidelines here: https://www.newretirement.com/answers/12174/does-reverse-mortgage-work-with-mobile-home-0n-3-4-a.aspx

    Note there have been some recent significant changes to the reverse mortgage program which you can read about here: https://www.newretirement.com/retirement/hecm-reverse-mortgage-changes-reduced-loan-amounts-higher-fees/

    You can also request to talk with a lender from that page.

  • Login to rate this answer:   Answered on 9/10/2017
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.