What type of loan do I need to purchase 5 acres of land with an older model mobile home on the land?

Mandms2: What type of loan do I need to purchase 5 acres of land with an older model mobile home on the land?
I can’t get a loan on the mobile home because of the age of it. I need a loan to buy the land and existing structures on the land – a mobile home and pump house.
I am currently living in the mobile home on the land and need the loan to buy it from the seller – currently my landlord because I am paying rent until I can purchase it.

Answers and Views:

Answer by Billy Cunningham
chances are you will need atleast 25% down to do so. Cause the house is of nominal value.

Answer by Iffy
Then you apply for a personal loan from the bank where you have your checking account

Answer by Tony RB
Change the terms of your rental to a rent-to-own type of contract.

Wikipedia has a very brief article about Rent – to – Own, scroll down to “Real Estate”

https://en.wikipedia.org/wiki/Rent-to-own

Here is a longer newpaper article about this type of purchase contract:

Rent-to-own home deals surge in popularity
By Katy Stech
The Post and Courier
Monday, November 12, 2007

These type of contracts are not mortgages, and to protect yourself, you need a lawyer to negotiate the contract.