Private Mortgages for Mobile Homes on a Pad (Land-Lease)
August 23, 2025 | Posted by: Alex Vinarski
Owning a mobile home is a popular and affordable path to homeownership in BC. However, securing financing can be a challenge when you don't own the land underneath it. If traditional lenders have said no, a private mortgage could be your ideal solution.
I specialize in arranging financing for mobile homes in land-lease communities (on a pad), helping homeowners access the funds they need for purchases or refinancing.
How It Works: Mortgages for Mobile Homes on a Pad
Even though you lease the land your mobile home sits on, you can still use the equity in the home itself to secure a loan. Private lenders focus on the value of your mobile home, not the land, making this a viable option where banks often decline.
Key Eligibility Criteria:
To qualify for a private mortgage on your mobile home, the property must meet a few simple requirements:
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Age & Condition: The mobile home must be 15 years old or newer, or have been substantially renovated.
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Loan-to-Value (LTV): You can borrow up to 65% of your mobile home's current market value.
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Minimum Loan Amount: Mortgages are available for amounts starting at $25,000.
Major Benefits of a Private Mortgage:
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No Income Verification: Your application is approved based on the equity in your home, not your pay stubs or tax returns. This is perfect for self-employed, retired, or commissioned individuals.
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Fast Approval & Funding: Get the funds you need in days, not weeks. Avoid long bank delays and close quickly.
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Purchase or Refinance: Whether you're buying a new mobile home or want to access the equity in your current one for debt consolidation, renovations, or other expenses.
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Bad Credit is OK: Past credit issues do not automatically disqualify you.
Is a Private Mortgage Right for You?
A private mortgage is an excellent short-term strategy if you:
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Need to buy a mobile home but can't get bank financing.
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Want to access your home's equity to consolidate high-interest debt.
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Have experienced a credit event but have significant equity.
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Need funds quickly for an time-sensitive opportunity.
Ready to Unlock the Equity in Your Mobile Home?
Don't let the lack of land ownership prevent you from achieving your goals. As an experienced mortgage broker, I have access to private lenders who understand the unique nature of mobile home financing. More information on private mortgages here: https://www.ipotekacanada.com/index.php/private-mortgages
Contact me today for a free, no-obligation consultation! Let's discuss your needs and get you the best possible rate.
