Tim Sheehan · JPAR Modern Real EstateMarket NotesSt. Vrain Valley · May 2026Priced right vs. priced wrong: what 30 days of local sales revealThere is one decision that shapes almost
Mobile Homes
Dated: March 7 2024
Views: 47
If you are looking at mobile homes in a "park", know that you will also have to pay ground rent which will be over $800 per month! That is over and above your Loan payments so take that into account.
So I was working with some buyers last weekend and they were Pre-Approved for a mobile home up to $180,000. The parks where they were looking, all had Lot Rents of over $900 per month. Granted their lender took this into consideration but their APR was almost 11% on their loan.
So in Round numbers, because I'm a bit dense,
Using $180,000 as the loan figure, over a 30 year loan, the montly payments would be around
$1,720 @ 11% (Mobile home rates are much higher than a conventional mortgage)
$1,260 @ 7.5%
Now lets add an additional $1,000 per month to the 7.5% figure
$2,260 @ 7.5% equates to a mortgage over 30 years, for a home, of about $360,000!
Which way would you like to go? Talk to me about options.
NOTE - I am not a licensed lender but these figures are for illustration only. I have lenders who can help you build equity.
Tim Sheehan
I’m originally from the UK, from Irish parents, and yes, I still sound like someone who’s either about to sell you a house or narrate a BBC documentary. I moved to Colorado in 2017 with my....
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