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land/ mobile home

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kimandfairel Joined: 30 Mar 2011 Posts: 1 1.30 Dollars($)	Posted: Wed Mar 30, 2011 7:05 pm    Post subject: land/ mobile home Like 0 Dislike 0 My husband and I both have excellent credit (788 & 792) but not a huge amount of money in savings. We want to buy property that, at the moment, has water only, and put a manufactured home on it. We can only come up with about 10% down for the property(not the 20%-25%) at least untill we sell our existing house, but would like to start right away. Any suggestions on the best loan opportunities?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Mar 31, 2011 12:15 am    Post subject: Like 0 Dislike 0 Hi kimandfairel! Welcome to forums! Most of the lenders will want you to come up with 20% down payment. If you're unable to pay the down payment, the lender will want you to go for a PMI. If you can afford that, you can contact your local lenders and apply for 30 year or 15 years mortgage as per your suitability. Feel free to ask if you've further queries. Sussane

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