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Telam
Guest
0.10 Dollars($)
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Post subject: needing a home |
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| I presently reside in my mothers house who passed away last year. Because I had lived with my mother for years I had nothing in my name. My credit score is 0. I am going to be a first time buyer and I am employed. I have a reasonable size down payment and will have more to pay after the sell of my mothers house. Is there program that will work with me to purchase a home and land? |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi,
To Charles,
Getting a refinance for your mobile home will depend upon the equity in the property, your credit score and income. You can contact your current lender and check out if he is ready to refinance the mobile home. You can even contact the other lenders of your area and check out their rates and terms.
To Telam,
As your credit score is 0, I don't think lenders would be ready to work with you. You will first have to build your credit and then start looking for loans.
Thanks |
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Miner 80
Guest
0.10 Dollars($)
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Post subject: mobile home loan |
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| I need to find a lender for a mobile home that is NOT on a permenant foundation but is on 1/3 of an acre. My credit is not good due to some past problems that were not in my control. My credit score is in the low 500's . I do have an excellent work history though. I do not have a co-signer so please do not suggest one. I need help. |
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NV BLU
Guest
0.10 Dollars($)
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Post subject: Best place to find a MH loan |
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I have "Gold Bricks" credit rating. I am purchasing a new mobile home to put on a lot that I just purchased. The lot is developed with power, well and septic. Once I buy the lot, my cash reserves sink to near zero. Can the lot be figured into the loan so that it shows as a substantial down payment?
This brand new 1550 sq ft home will be put on a permanent foundation. What would you recomment as a place to aqquire financing on this home?BTW, it will be owner occupied. One more question, do MH qualify for the $8k tax deduction? |
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Ana
Guest
0.10 Dollars($)
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Post subject: |
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| I don't think the lot will be figured into the loan. As far as tax deduction is considered, I think you will get it. But it would be better if you could consult a tax adviser. |
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Stacey
Guest
0.10 Dollars($)
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Post subject: |
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| A friend of mine owns a mobile home in Massachusetts which is located on leased property. He is looking to take an equity loan on the home which is currently valued around $100,000. He is having difficulty finding a lender in Massachusetts willing to finance a mobile home. His credit rating is superior. Any guidance would be appreciated. |
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SueS
Guest
0.10 Dollars($)
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Post subject: How to get Mobile home loan with poor credit |
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| My credit is challenged. I am hoping to purchase a mobile home, pre-owned, and need a small loan to make that happen. Where can I go? |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Post subject: |
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Welcome,
To Stacey,
As the property is located on a leased land, I doubt whether your friend will be able to get a loan. In my opinion, your friend should try for a personal property loan in this case. Your friend can contact a realtor who sells mobile homes and can get a personal property loan from him.
To SueS,
It will be difficult for you to get a loan if your credit is not good. You haven't mentioned your credit score. In order to get a FHA loan, you will require a credit score of 620 whereas to get a conventional loan you need to have a credit score of 700. |
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merle
Guest
0.10 Dollars($)
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Post subject: Land and Mobile Home Refinance |
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| I have been paying on my land and mobile home mortgage for over ten years with a perfect payment history. I owe $35,000 with an estimated value of $60,000. My interest is 10%. I want to refinance for 20 years with lower interest and I would like to add $2,500 to loan for improvements. Who would be best to handle this? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3709
Location: Alaska
556.69 Dollars($)
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Post subject: |
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Hi merle!
Welcome to forums!
You can contact your present lender and check out the option of refinance. You can also contact the other lenders of your area and see what type of rates and terms they are offering you. However, you should note that the lender will check your credit score and income before approving the refinance.
You can contact the lenders of this community and seek a no obligation free mortgage quote from them. This will help you in knowing what type of rates and terms you can expect to get.
Sussane |
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confusedandneedhelp
Guest
0.10 Dollars($)
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Post subject: bankruptcy ch 13 |
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| I'm currently in chapter 13 bankruptcy. I was wondering if I could purchase a new home (manufactured or constructed). Due to my current interest rate of 10.5% on my single wide mobile home. I pay more in interest every month than what is acutally going toward the principle of my home. I have like 40.00 per month going toward the principle of my home. Is there any way to get from under this home by purchasing a new one with maybe a better interest rate. |
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crusader88
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0.10 Dollars($)
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Post subject: loan with two manufactured homes |
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| I currently have a 1/2 acre property with two manufactured homes on it. The one is a 1970 double wide. The other is a 1999 Fuqua. The note to the Fuqua is in my parents name. I have the property and the 1970 in my name. I moved them to the back of the lot because I see the future need for care. I got the property about 18 months ago from a private lender through a title company. They gave me 5 years to get alternative lending. I would like to get the entire property refinanced now, to benefit from the current low interest rates. Nobody is biting. I have real good credit. So does my wife. We are looking to refianace the entire thing. Both mobiles and the property and we're only looking for 90k. I have been a teacher and coach for 6 years. The job is secure. Is there anyone that will carry this circumstance. I can make the current payments but I want to refinance now for rate, but also so that I am not scrambling to do this in 3 years when I am required to. Any Help? |
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rjb
Guest
0.10 Dollars($)
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Post subject: Loan appraisals for HUD loans on manafactured homes |
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| Is it a HUD requirement for a finance company to require two seperate appraials on a manafactured home or is the finance company just looking for extra profit? |
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Niicss
Joined: 03 Oct 2005
Posts: 2617
Location: New Jersey
409.01 Dollars($)
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Post subject: |
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Hi,
To Guest,
As you are presently in Chapter 13 bankruptcy, lenders will not be ready to give you a loan. You'll have to wait for 2 years after the discharge from Chapter 13 in order to get a conventional mortgage and 1 year after the discharge for FHA loan.
To crusader,
As far as the 1999 Fuqua is concerned, I don't think you would face problems in getting a refinance. But as far as the 1970 mobile home is concerned, you will face difficulty in getting a loan as mobile homes build prior to 1976 hardly qualify for loans.
To rjb,
Yes, as far as I know, HUD requires two separate appraisals on a manufactured home.
Thanks. |
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joyceann
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0.10 Dollars($)
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Post subject: want to buy a used mobile home at a co-op park in MA |
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| im in my 40's i have $20,000 to put down with my boyfriend my credit score is 600, the mobile home is $70,000 will i be able to get a loan? is it a good move? i wnna but im scared i hear storied from people who say they arent good, i dont plan on reselling it i plan on stayong there |
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