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sara
Moderator
Joined: 05 Jul 2006
Posts: 2650
Location: New Brunswick, New Jersey
489.32 Dollars($)
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Hi,
To roy,
Though you haven't missed your rent payments, I don't think you will be able to get a loan if your credit score is not good. You will have to improve your credit score first and then apply for a loan.
To jenr,
As far as I know, it will be difficult for you to get a mobile home loan if you do not have a job. You may try for a personal property loan in that case. To know more about mobile home loans, check out the following page:
http://www.mortgagefit.com/mobile-homeloan.html
To Kim,
Do you have a mortgage on the 1970 mobile home? If yes, then you will have to inform the lender about turning it into a storage building. If the lender agrees, then you can proceed further.
Take care. |
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111ridges@gmail.com
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Post subject: purchase of mobile home |
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| We bought a mobile home from an individual. $28000.00 price. $3000.00 down at 6% interest for 10 years. Is any of this deductible? |
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| If you have taken the loan from a Fannie Mae or Freddie Mac backed lender, then you will be getting tax deductions. If you have taken loan from a private lender, then tax deductions will depend upon your your income. |
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Stan
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Post subject: home equity loan |
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| I am looking for a loan to pay off some bills and want to use my mobile home ,no foundation,own the land,no mortage,in kansas, can you help me find a lender. |
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lcrebo@msn.com
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0.10 Dollars($)
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Post subject: taxes |
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| How do the taxes work on a manufactured home on a rented lot? Is it like personal property (automobile)? |
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Guest
0.10 Dollars($)
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Hey Stan...if your mobile home does not have a foundation, it will be difficult for you to get a loan on that property. Rather you will have to look out for a personal property loan.
lcrebo...if the property is situated on a rented lot, then I guess, then it will be considered as a personal property and will be taxes accordingly. |
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Angela Sherrod
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Post subject: loan |
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| Where can I apply for a bad credit mobile home loan? |
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adonis
Joined: 22 Oct 2005
Posts: 10258
Location: ALASKA
1044.81 Dollars($)
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Welcome Angela,
It will difficult for you to get a mobile home loan if your credit is not good. You will have to improve your credit first and then look out for a loan. To know more about improving your credit, check out the given page:
http://www.mortgagefit.com/credit-rating/credit-repair.html
_________________
Procrastination is the enemy of your financial success |
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glen
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Post subject: homeless almost |
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| i have nobody to blame but myself my credit is horroble am 44 an was forced to live back at my moms an she is moving out of state i have no other family to ask for help am not asking for a free handout am working have a good job an am trying so hard to get a roof over my head i do not card what color, or year model what it looks like as long as it has 4 walls am happy do you have anything that i could apply for here in alabama please help me |
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MRS. BRADLEY
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Post subject: |
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| DOES THE 7500 TAX CREDIT AND FIRST TIME BUYER ASSISTANCE APPLY FOR MOBILE HOME OR LAND HOME DEALS |
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Tess
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Post subject: income to debt ratio |
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| I'm currently looking to buy my own home. I have found a couple properties I am interested in. The mortgage companies I have spoken with say my debt to income ratio is too high. One property is 26900 and the other property is 35000...both payments would be around 300 or less than that monthly. Is there any other mortgage companies you could suggest that can help me with this? All rental property in my area is 450 or up monthly. In my opinion, why pay someone to live in their house when I can pay less monthly towards owning my own home? Any help will be much appreciated....Thank you!!! |
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Jimmy walker
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Post subject: qualification for a loan |
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| I want to purchase a mobile home on a ten acre lot. It will be my only residence, but due to work at the moment, I will reside in the home 3 of the 4 days of the week. Would it qualify as my primary residence? |
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adonis
Joined: 22 Oct 2005
Posts: 10258
Location: ALASKA
1044.81 Dollars($)
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Welcome Tess,
If your debt to income ratio is high, then it will be difficult for you to get a mortgage. You will first have to lower the dti and then look out for a loan.
_________________
Procrastination is the enemy of your financial success |
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Tess
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Post subject: DTI |
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| thanks adonis....same thing the mortgage companies say....I just dont understand why I cant get a loan for $35000, its not a significant amount of money according to all the mortgage companies Ive spoken with...and seeing how the "economy is" you would think that they would want to sell something...my truck will be paid off in 15 months...then I will have practically no debt....but then the house I want will be gone...I just dont get it...my cousin got a loan for 65000 and had the same amount of debt as i do, we work in the same place, make the same amount of money....now she has a 600/m house payment she can barely afford, but i cant get loan with a payment of 300/m which i know i can afford....just makes no sense to me....and sorry im venting a little on you guys...just got turned down today for a mortgage by the 6th company....guess its time to give up for now....thanks again for your help!!!!! |
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ingramhuffman
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Post subject: refinancing manufactured home on property with permanent fou |
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| My back is telling me that rules have changed and I now can not get a fix 30 year mortgage on my home. where can I turn to correct this problem. I have a mortgage that will increase in the next two years |
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