Is it possible to get a mortgage loan WITHOUT owning the land to put the house on?

Just some quick background info: My mom has a home on about 1-2 acres of land. We were hoping to order a manufactured home to put directly behind her house on HER property. The bank says that the land must be in OUR name in order to get a loan. Meaning my mom would have to deed us part of her property (which she doesn't necessarily want to do). My question is, in order to get ANY kind of mortgage loan, does the land HAVE to be in our name? Or is there some kind of provision my mom can sign giving us permission to do this?Is it possible to get a mortgage loan WITHOUT owning the land to put the house on?
Technically, a loan for a mobile home is not a 'mortgage' if land is not part of the collateral. Credit unions and banks will sometimes lend money for the purchase and setup of a mobile home, but they're usually reluctant to do so because mobile homes, like cars, depreciate... unlike land (usually). Call around to local banks and credit unions to see if one will help you...but expect to borrow only about 75% to 80% of the NADA value of the mobile home. (NADA is the yellow valuation book used by bankers to determine the values of cars and mobile homes, as well as boats and motorcycles.)Is it possible to get a mortgage loan WITHOUT owning the land to put the house on?
Contact a mortgage broker. A mortgage broker may have a contact who would be willing to make a loan to you, but it would be at a higher rate than you want and for a shorter time.





The reason for the high rate is that the value of the manufactured home would start depreciating right away. Normally when you have a mortgage, your house sits on solid ground that you are also buying, and the value of the house and land are considered together. The value of both together tend to rise over time, making it less risky for the bank to lend money.
No I don't think so

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