If one is planning to buy a mobile home as one wants to have his or her very own home yet finds the traditional home to be rather expensive then one can do so by signing up for a mobile home mortgage loan. Mobile home loans provide financing that qualified applicants need in order to buy either a newly built or an already used mobile home. Mobile home loans can only be used to refinance an existing mobile home. There are two types of mobile home loans. The first type of mobile home loans are that of homes which are located on rented land. This type of loan is called chattel mortgages. On the other hand, the second type of mobile home loans is that of homes which are located on a private property. In this type of loan, the lender is not only financing the mobile home but also the land. This type is the same as that of a real estate.
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