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Liam
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0.10 Dollars($)
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| I am looking for a home equity loan or any king of loan my moble home is in a park and paid in full. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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liam, you'll have difficulty in locating such a loan. at this time, i think your best bet is to search in your local area for a lender who might consider a personal loan, holding title as collateral. alternatively, there are, i believe, numerous lenders who advertise online and can be found doing an internet search. i cannot vouch for any, but i'm quite sure they exist.
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George M. Akerley
Loan Consultant
860-221-5044 |
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Lynn
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0.10 Dollars($)
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Post subject: Need to pay off debt quickly! |
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| I have a 2001 Dutch Mobile home that is paid for....I need to consolidate debt before I get evicted from the park I live in with my two young daughters. I pay lot rent and would be willing to pay a monthly payment of 500 to 700 a month to get the debt paid off and be able to have a savings again. Due to credit cards and personal loans along with student loans I have found myself falling farther and farther behind. Had a bankruptcy in 07 or 08 chapter 7. I am about to get my power shut off due to having to pay on other loans. Can someone please help me I am desparate!!!!! |
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Tris
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0.10 Dollars($)
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Post subject: home loan vs personal loan? |
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Hi~ I'm looking to purchase my fathers mobile home from him directly that already is located in a community (lot rent separate). The cost is only going to be 13K. Would this still be considered a 'mortgage' type loan or would I go for a collateral personal loan? I have never bought a home but I don't want to waste any opportunity I may have in the future to buy a more expensive home as a first time home buyer.
Thank you for your time |
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Debbi
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0.10 Dollars($)
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Post subject: trailer finance |
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| We are trying to buy a 1975 doublewide sitting on foundation with a 3 stall garage - We are pre-approved for $95.000 for a "house" but not this trailer.......how do we get financing?? It sits on a large lot, deck, patio, landscaped and remodeled inside with a large 3 stall tandem garage, its perfect for us!! |
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jenkin7
Joined: 04 Jun 2007
Posts: 3421
Location: Hawaii
512.47 Dollars($)
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Hi Debbi,
It is going to be very difficult for you to get financing for a 1975 mobile home. No lender would want to offer loan against such an old home. Mobile homes built prior to 1976 do not conform to the standards specified in the Federal National Manufactured Housing Construction and Safety Standards Act, which came into effect from 1976. These homes depreciate fast and have low life expectancy. I think it will be easier for you to get a loan, if you opt to purchase a relatively new mobile home.
Hi Tris,
Since the mobile home you want to purchase in located in a community lot and you do not own the land on which the home sits, you are likely to get a personal property loan. In order to qualify for a mobile home mortgage loan, you need to have both the home and the land in your name. Given the amount of the loan you are looking for, it should not be difficult for you to get a personal property loan if you have a decent credit and income. |
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savior70
Joined: 25 Mar 2009
Posts: 1416
Location: Florida
167.66 Dollars($)
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To Lynn,
A debt consolidation loan can help you manage your debts in a better way. You can pay off your credit card and other debts and get current on your loans using the new loan. But the problem is, you have a bankruptcy in your credit. You will have to wait for at least 2 years after the bankruptcy discharge to get a loan. You must also have improved your credit since the bankruptcy discharge. What are your current credit scores? When exactly were you discharged from the bankruptcy? |
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redneck
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0.10 Dollars($)
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Post subject: mobile home loans |
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| How do i go about getting approved for a loan and how much |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1737
36.13 Dollars($)
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Post subject: |
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| You will need to contact a lender and provide yoru financial details |
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jenkin7
Joined: 04 Jun 2007
Posts: 3421
Location: Hawaii
512.47 Dollars($)
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Hi redneck,
You have not provided any information, based on which I can give you some suggestions. Having a good credit and income is essential these days to qualify for a loan. What are your credit scores? What is your approximate annual income? How much of a mortgage are you looking for? Do you own the land on which you would put the mobile home? |
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judywind@comcast.net
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0.10 Dollars($)
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Post subject: trying to buy my mother a mobile home new in park not on fon |
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| my mom is 76 only income ss and a small retirement. Home she lives in is very old and beond repair. I am trying to co sign to get her into a new home already set up in same park. with moms income my sisters income who lives with her and my self on as co signer together our dept to income falls short by 200.00 what can I do who can I get some help from |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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Post subject: |
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and for that $200 you can't get the loan company to stretch a little bit? that's a sad commentary on life in these days. can you beg, borrow or scrounge up enough money to be able to reduce the loan amount needed so that payments come down enough?
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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judywind@comcast.net
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0.10 Dollars($)
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Post subject: mobile home |
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| Home price 35,000 mom 16.764.00100 sis around 11,000 mine 19,000my credit score 745 sis 620 mom is 600 |
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NANCY TROLLINGER
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Post subject: REQUIREMENTS FOR MOBILE HOME PARK TO QUALIFY AS AN FHA APPRO |
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| what are the requirements to be a mobile home park and qualify for FHA? |
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savior70
Joined: 25 Mar 2009
Posts: 1416
Location: Florida
167.66 Dollars($)
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To judy,
| Quote: | | ….mom 16.764.00100 sis around 11,000 mine 19,000…. |
You mean these are the incomes that were taken into consideration while determining the DTI ratio? What are the debt obligations that you have? You and your sister have the credit to qualify for an FHA loan. However, your mother's credit is a bit low and she could have some problem while qualifying for the loan. As far as the DTI ratio is concerned, you can look for some other lenders and see whether they are ready to stretch that little bit.
To NANCY,
The FHA does allow you to purchase a home and place it on a mobile park. It is not necessary for you to own the site where you want to place the mobile home. Both the site and the home need to meet the required eligibility criteria to qualify for the FHA loan. As far as the site is concerned, it should have proper water supply, sewage system etc. The mobile home should also have not been shifted from a different location to the new site. As per the FHA requirements, the mobile home can only be moved from the manufacturer's or dealer's lot to the site where the home would be permanently placed. |
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