[Midvale]

Originally Posted by Villages PL

The information I got from an insurance company (several years ago) is that no one will insure a manufactured home that is over 30 years old. So, in order to get a 15 year mortgage, the home would have to be no older than 15years old.

Another example: If the home is 20 years old, you would only be able to get a 10 year mortgage. At the end of 10 years, you would have to sell for cash, unless you're willing to hold the mortgage yourself. No insurance company will hold a mortgage on a home that can't be insured. You would have to find a buyer who's not worried about being uninsured. And, of course, if you hold the mortgage, there would be a risk to you as the mortgage holder.

Recently got a 30 year mortgage on a 25 year old home. Getting homeowner's insurance was no problem.