I would like to learn about the salient points to keep in mind while applying for mobile home mortgage. Will some one please help?!

Some mortgage lenders will not touch these. Remember that if the home is on a park you cannot sell it like you would sell a house. Also note that the annual fees on most parks are enough to pay a mortgage on a bricks-and-mortar house, and then you'll pay the same again to "own" the caravan.

Hi! I have also bought a Mobile Home recently as it is cheap but I would like to caution you to check it thoroughly before you finalize the deal. I recently found a site named
http://www.manufacturedhomeloan.org/ which elaborates on the subject in detail and you may like to go through the article directly if you so desire at http://manufacturedhomeloan.org/mobile-home-mortgage-brokers-finding-the-one-that-you-can-trust/manufactured-homes/ . Wish you good luck!