loan on a manufactured home

tequilasueohmy · Joined: 30 Jun 2008 Posts: 2 2.01 Dollars($)

i would like to know if you can get a loan on a manufactured home. i have a 1998 fleetwood 16x80 home that is paid off and i need to get a loan. i am a widow for 7 yrs and 10 yrs ago before my husband died we filed bankruptcy.my credit score is only 550 and i have too much credit but all my cards are maxed and have high interest rates.

smckaybiz · Posted: Mon Jun 30, 2008 6:33 pm Post subject:

Hi tequilasueohmy,

I think the biggest decission maker here is going to be whether or not you own the land that it is on and does it have a solid foundation? If so then there might be a chance but I think you may have to work on raising your credit score some first. I'm sure someone will be around that can better answer your question.

Best of Luck

brian1 · Posted: Mon Jun 30, 2008 8:56 pm Post subject:

OP with that score getting a refi is going to be extremely difficult
you need to have a good debt to income ration to even be considered with an FHA loan and no lates over the last 12 months. If your monthly debt is less than half of your monthly income and this is attached to the land you may have a chance.

Good Luck
Brian

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