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help
Guest
0.10 Dollars($)
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Post subject: refinance |
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| Need Help! Looking for a lender who can refinance a mobile home on a permanent foundation with a renter? |
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Bunnieb
Guest
0.10 Dollars($)
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Post subject: Want to purchase a home |
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| I own my own land. I had a bankruphy 2 years ago. I am current on my new accounts. My credit score is 711. I want to get a 3 bedroom modular or double wide. Can I use my land for my down payment? I was emploted at mt job 9 years, got laid off last year and started a new job 5 months ago. Will I be eligible for a loan with the job change? |
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sarahweistart
Guest
0.10 Dollars($)
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Post subject: moble home |
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| want to pawn moble home title |
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sarahweistart
Guest
0.10 Dollars($)
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Post subject: pawn moble home |
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| where can you do this |
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jim biggs
Guest
0.10 Dollars($)
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Post subject: mobile home loan |
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| i have a poor credit rating and want to stop renting so i can save money in the long run i have found a mobile home i want to purchase but need a loan where can i get a loan in my situation i can afford 300 to 350 a month payments as i will also have a 500 mo lot rent can i get a loan with payment in this vicinity? |
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pianogram51
Guest
0.10 Dollars($)
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Post subject: mobile home purchase |
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| Is there a minimum amount to finance?. I found a really nice single wide for sale in a park for $20,000...thanks |
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jpadames
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0.10 Dollars($)
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Post subject: loan for mobile homes (pre 1974) |
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| I am interested purchasing a mobile home on a rented lot, but the mobile home was built in 1969. Are there any financial institutions or type of loans that would approve purchasing a home of that year? |
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stressed
Guest
0.10 Dollars($)
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Post subject: purchasing a mobile home |
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| Do I have to have the home appraised to obtain a chattel mortgage? |
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frustrated
Guest
0.10 Dollars($)
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Post subject: mobile home refinance |
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| I have a mobile home and 2 other buildings on 26 acres in Indiana. I am looking for someone to refinance my loan with. I have been stuck with a 7.25% 30y fixed term since buying the house and property 8 years ago. All the lenders I have spoken with thus far say they will not refinance a mobile home. Are there any lenders out there who will do this at a reasonable rate? Is it possible to get a VA loan at this point? |
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woody53
Guest
0.10 Dollars($)
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Post subject: need refinacing |
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wanting to refinace my manufacted home ,but the bank holding the mortage now tells me they wont loan on it ,because it is not permantly attached. need toknow what permantly attached means? and where imight try to get a loan  |
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jenkin7
Joined: 04 Jun 2007
Posts: 4537
Location: Hawaii
728.43 Dollars($)
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Post subject: |
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Hi woody,
Mobile homes are said to be permanently attached if they are set on a permanent foundation and cannot be detached from the land. When a mobile home has a permanent foundation, it is treated as a real estate property and it becomes easier to get a mortgage against the home. But refinancing mobile homes with permanent foundation has also become quite tough due to the depressed economy. There are hardly any lenders who offer loans on mobile homes in this market.
Hi frustrated,
The number of lenders offering loans against mobile homes has gone down in recent times. Many have gone out of business and many have stopped originating loans for mobile homes until the market recovers. This is why you are finding it difficult to refinance your home. If you qualify for a VA loan, you can definitely look for that option. However, there are certain lenders that do offer mobile home loans. I’m not sue if they still offer such loans. But I believe it is worth a try to seek a no-obligation free mortgage consultation with them. They will assess your financial situation, credit scores, etc. and will let you know if they can offer you a new loan against your mobile home. |
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savior70
Joined: 25 Mar 2009
Posts: 1895
Location: Florida
261.84 Dollars($)
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Post subject: |
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To stressed,
An appraisal is required to obtain a chattel loan on your mobile home. The appraisal makes sure the loan is secured by the value of the property. The lender needs an appraisal because they want to be assured that their loan amount is secured by the value of the collateral so they do not have to suffer any loss in case the borrower defaults. |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 2619
Location: MICHIGAN
415.87 Dollars($)
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Post subject: |
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Hi jpadames,
Lenders will not want to finance a loan on a mobile home built prior to 1976. Mobile homes need to be in compliance with the safety and construction standards as set by the HUD. Homes built before 1976 do not comply with those standards, which is why they do not qualify for a loan.
Hi pianogram,
There is no such minimum amount limit to finance a mobile home. You can talk to a local lender regarding the loan. You should not have any problem to get a loan of $20k, if you have decent credit and income, and the property meets the HUD specified guidelines.
Thanks,
Jerry |
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misty_kitty_1999
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0.10 Dollars($)
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Post subject: bad credit home loan |
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| i am trying to find some one who will help me finance a new mobile home that i can put on land that i am renting. i have a mobile home for trade in but its unsafe to live in. |
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bah
Guest
0.10 Dollars($)
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Post subject: mortgage and consolidate |
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| can you have a mortgage and consolidate your bills and have one monthly payment |
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