My friend and I are considering moving into a mobile home instead of an apartment next year. The initial cost of buying and owning the home will be $ 5000 and the lot rent will be $ 268 a month. Beyond paying that initial amount to own the home and our rent+utilities, what other costs might we run into in buying the home? Do mobile homes have mortgage rates if you own the home? I dont know much about this at all and I’m looking for as much help as I can get!
What all goes into buying a mobile home as far as costs?
Best Solver (Answer):
Answer by Ryan M
It will only have a mortgage payment if you took out a mortgage loan. No loan = no payment.