Buying a mobile home is similar to buying a standard house, but it usually comes with lower down payments, lower property taxes and lower monthly payments. Buying a mobile home is done by obtaining a loan, the same as one would for a traditional home, according to Realtor.com.
Using the FHA mortgage program, getting a low interest rate on a mobile home is very possible. A buyer needs to make sure the land intend for use is zoned for a mobile home, with no restrictive covenants preventing one. Buyers should also be wary of mobile homes built before 1976, which may have aluminum wiring, a potential fire hazard, states Realtor.com.