Once you find the perfect floating home is definitely NOT the time to call a lender. Call the lender before you begin to look! Loans to purchase floating homes are available from your credit union or from some small local banks. This year, it looks like the best rates are available from Banner Bank. By best rates, I am talking about 7.1% with a 20% down payment. Get friendly with the lender you choose so they can keep you informed about any changes in the loan market or terms available as you look for the perfect home.

When you make an offer to buy a floating home, it should be subject to both a property inspection and a float inspection. The property inspection will tell you all the good, the bad and the sinkable in your potential home. The float inspection is very important. I will write more about the float of a floating home in another post! The main message here is to get your money ready by finding out exactly what is expected of you by the lender you choose.