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Maggie
Guest
0.10 Dollars($)
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Post subject: Prequalify |
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I guess I should have been more specific with prequalify...
I was told that mobile home loans DO NOT get prequalified. You only get a loan when you pick a house. But how in the world does one know what they qualify for. I think its like a lending bait and switch for people to pick something and then are told they cannot afford it, when, if they KNEW what they could afford, they would pick something in their budget.
I want to know how much a loan would be before I waste anyone's time picking something I cannot afford. Right now I can only guess.
Then, I am looking at bank websites and all sorts of people talk about mortgages...but I worked for a bank before and I KNOW that when they say mortgage, they don't mean a loan for a singlewide mobile home in a park. And I am checking with lenders online and they don't seem to want to do loans in Maine even though there are oodles of mobile homes around.
It is a little frustrating.
I guess I will have to trust the park manager and get his input.
Buying a home is very off-putting. |
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angelahatton
Joined: 03 Jan 2009
Posts: 1
1.30 Dollars($)
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Post subject: 1997 |
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| i am renting to own a 1997 clayton doubblewide. asking 23,000 thats pay off of the loan and her a little money. I also am looking at a pieace of land for 5,000 I have bad credit my friend has no credit we need 30,000 we have no down payment but can pay 600 a mo. |
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Niicss
Joined: 03 Oct 2005
Posts: 2617
Location: New Jersey
409.01 Dollars($)
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Post subject: |
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Hi,
To Maggie,
If you are planning to purchase a mobile home which is situated on a rental land, then the lenders will not be ready to give you a loan. Moreover are your planning to take a mortgage on the mobile home or do you want to go for a personal property loan? I think in case of a personal property loan, you will not have to pre-qualify but you will definitely have to fulfill some other terms and conditions.
Hi angelahatton,
With a bad credit and no down-payment it will be difficult for you to get a loan. You can check out requirements for getting a mobile home loan from the given link:
http://www.mortgagefit.com/mobile-homeloan.html
Thanks.
_________________
Good is the Enemy of Great. |
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chasejacob
Guest
0.10 Dollars($)
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Post subject: mobiel home |
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| I have never bought anything on credit so I have no credit history. I want to get a new mobile home. How can I do that |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hey chasejacob,
Credit history is not formed on the basis of what you bought on credit. It is a record of how an individual has paid back all his debts both secured and unsecured debts in time, whether the debtor has filed for a bankruptcy, foreclosure, deed in lieu etc. It is a record of credit accounts that you have as well as the total amount of credit you have taken in the past. To know more about credit history, check out:
http://www.mortgagefit.com/credit-history.html
If you want to get a new mobile home, you should have a credit history. Apart from this, the mobile home which you are buying should have a permanent attachment to the land. To know more about mobile home loans, check out the given link:
http://www.mortgagefit.com/mobile-homeloan.html
_________________
Procrastination is the enemy of your financial sucess |
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caol girl
Guest
0.10 Dollars($)
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Post subject: |
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| husband's name only is on the manufactured home loan...had for 7 years. He is currently gravely ill and on hospice. How do I get my name on the loan and what would happen if he died and my name is not on the loan ? thanks |
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Niicss
Joined: 03 Oct 2005
Posts: 2617
Location: New Jersey
409.01 Dollars($)
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Post subject: |
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Hi caol girl
You can refinance the loan in your name. This will help you to add your name to the mortgage. If your name is not on the mortgage and in such a situation your husband dies, then the lender can ask you to refinance the loan.
Thanks. |
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Stephen Johnston
Guest
0.10 Dollars($)
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Post subject: FHA Title 1 Manufactured home loan |
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| What lenders do these Title 1 home only loans for manufactured housing? |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hey Stephen,
You can contact FHA approved lenders who will be able to help you with a title 1 loan. You can also speak to the lenders of this community and seek a no obligation free mortgage consultation. Let's hope they can help you in this matter
_________________
Procrastination is the enemy of your financial sucess |
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mikeanonymous
Guest
0.10 Dollars($)
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Post subject: moble home loan |
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| What is the formula to find out how much you can borrow,and the amount of time you have to pay back? |
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Bea Black
Guest
0.10 Dollars($)
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Post subject: find a respectable loan company ? (Better Business bureau) |
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| My nephew is buying a mobile home, which is already in an established mobile home park, per landcontract & verbal interaction. Now it is time to get serious & find a respectable loan company. Please assist us with this mission |
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Bea Black
Guest
0.10 Dollars($)
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Post subject: need personal loan |
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| nephew needs a loan to purchase our mobile home from us. He has been living in it for 2 years. Bea Black |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Hi Bea Black,
Is the mobile home located on a rental land? If it's so, then the lenders will not be ready to give your nephew a mobile home loan. In that case, your nephew will have to take a personal property loan. To know more about mobile home loans, check out the following link:
http://www.mortgagefit.com/mobile-homeloan.html
_________________
Procrastination is the enemy of your financial sucess |
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kimsmithsmiles@yahoo.co
Guest
0.10 Dollars($)
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Post subject: Loan |
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| I own my 2000 mobile home I paid cash for it and I need to borrow money about 2500. dollars and I want to borrow it against my title of my mobile home. Is there any suggestions for me? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi Kim,
You can borrow it against the title of your mobile home. But as it is not a huge amount, it will be better if you can get a personal loan for yourself. However, a personal loan will come at a higher rate of interest.
Thanks |
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