A mobile home is a factory-built dwelling that meets the standards set forth by the U.S. Department of Housing and Urban Development, according to the North Carolina Real Estate Commission. Whether a used mobile home is classified as real or personal property determines the type of loan required to purchase it.
Reviewing the mobile home's title, deed or previous loan documents. If it is real property, it will not have a title; in that case, locate the deed.
Talk to several lenders about financing the mobile home. If it is real property, using a mortgage broker provides you with the best rate. If it is personal property, locate a lender that specializes in personal loans, such as a local bank.
Complete a loan application with the lender of your choice. Supply the documents requested by the lender, which includes income statements, employment verification and bank statements. Also, supply the lender with a purchase agreement created for the used mobile home, stating the year, make, model, sales price and contract date.
Have a title search completed on the used mobile home to ensure there are no liens or encumbrances on it. Follow the guidance of your lender when closing the loan for your used mobile home.