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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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Post subject: |
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With the credit score that you've mentioned, you will be able to qualify for a FHA loan for the mobile home. You should contact your local FHA lender and apply for loans. They will let you know what type of rates and terms you would receive depending upon your income and credit score.
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Good is the Enemy of Great. |
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searching
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0.10 Dollars($)
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Post subject: purrchasing mobile home |
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our family has out grown our home. we still owe at least 30,000 on current home. we have purchased land in another county but need a bigger home. what are our options  |
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Jessicalynnwood
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Post subject: Double wide built in 1971 |
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| Me and my boyfriend want to buy a 1971 modified doublewide on a semipermant foundation, but have no idea how to get a loan for it. Any ideas would be greatly appreciated!! |
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robertp9mm
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Post subject: Equity Loan using vacant land as collateral? |
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I own a prime 3 acres ( vacant, wooded, untouched ) in Lake Orion, MI. Same was sold next to me about five years ago for $110,000. I would like to get a good "Home Equity Loan Rate" using it as the basis of the loan. My credit rating and my wife's is excellent. Here's the catch. ( Or it may be ) I would like to borrow about $50K for the purchase of a Mobile Home and the land it sits on in a Condominium style park in Florida. It is used. Can this be done? Must I use sources in Florida?
Thanks. |
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adonis
Joined: 22 Oct 2005
Posts: 10258
Location: ALASKA
1044.81 Dollars($)
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Hi searching,
If you want to get rid of the present property, then you will have to sell it off and pay off the lender. Then you can apply for another loan and buy a new property. If you are unable to sell off the property and stop paying the mortgage dues, then the lender will have the rights to foreclose the property.
Hi Jessica,
Mobile home loans build prior to 1976 do not qualify for conventional loans. You can apply for a personal property loan in order to buy the double-wide. You can contact the retailers who sell mobile homes in order to get the personal property loan.
Hi robertp,
What I can understand from your post is that you want to buy the mobile home. You will get the mortgage depending upon the value of the property as well as your income and credit score. If you want to buy a property, you will have to take a conventional loan and not an equity loan. You can speak to the Florida based lenders and check out if you could get a loan.
_________________
Procrastination is the enemy of your financial success |
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Deborah Brown
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0.10 Dollars($)
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Post subject: Mobil Home on 150 Acres IN KANSAS |
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I can not find a lender....my husband is pre-approved, thought we had this all wrapped up....have a approval letter on a VA loan for the home and property, but found out that the home is a MOBILE HOME (DOUBLE WIDE ON A BASEMENT AND HAS A 3 CAR GARAGE ATTACHED) and NOT A MODULAR HOME so now we are at square one!! HELP!!!
Thank you, Deborah Brown 913-856-7013 |
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adonis
Joined: 22 Oct 2005
Posts: 10258
Location: ALASKA
1044.81 Dollars($)
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Post subject: |
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Hi Deborah,
I guess you will have to contact your lender and get pre-approved for the loan once again. As the property type has changed, the lenders will not be ready to give you a loan based on the prior pre-approval letter.
_________________
Procrastination is the enemy of your financial success |
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alpacha
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0.10 Dollars($)
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Post subject: |
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| i am wanting to get a loan to purchase a mobile home on three acres that is in foreclosure the bank it is with doesnt want to mess with it and i need to act quickly . my credit is good and have adequate money to put down. Can you help |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Hi alpacha,
You will have to contact the local lenders and apply for a mobile home loan. Depending upon your credit score and income you would be able to qualify for it. However, if the mobile home is built prior to 1976, then it won't qualify for a loan.
Thanks |
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marshalldiamond
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0.10 Dollars($)
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Post subject: purchase new mobile homes in park |
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Would like to purchase a new mobile home located in a mobile home park.
How do I finance it? |
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BB
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0.10 Dollars($)
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Post subject: older mobile home financing |
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| I want to finance a loan for an older single section mobile home in Indiana. 1967 to 1979 range. Is there any possibly financing possible for this? |
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crowdad
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0.10 Dollars($)
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Post subject: rates |
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| what are rates for a new purchase with 10% down 770 to 800 fico, haven't checked in awhile but should be real close to 800 if not over, no other debt but this new loan so good dti. do not want to include my land with loan just the home. wanting 10 or 15 year fixed or arm Thanks |
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Niicss
Joined: 03 Oct 2005
Posts: 4770
Location: New Jersey
499.28 Dollars($)
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Post subject: |
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Hi marshalldiamond,
You will have to contact the lenders who offer mobile home loans and get pre-approved for the loan. You would get a loan if you have a stable employment history, good credit score and the required debt to income ratio.
Hi BB,
Mobile homes build prior to 1976 do not qualify for loans. If the property is build after 1976, then you can contact mobile home loan lenders and apply for loans to buy the property.
Hi crowdad,
As far as I know, the mortgage rate for a 15 year loan is ranging between 4.43% - 4.53%. You can contact your local mortgage lenders and check out the rates with them. Depending upon your financial situation and credit score, you would get qualified for a loan.
_________________
Good is the Enemy of Great. |
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thmusgrove
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0.10 Dollars($)
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Post subject: selling mobile home |
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| i am trying to sell a double wide mobile home on 2.25 acres. the house has no axles and is permantly fixed. i have spoken to many buyers that say they cant get financed in my town. i am not comfortable with a lease to own. is their anyway that my buyers can get financing. my home is completely remodled and is 12 years old . has new appliances and a new heating and air conditioner system., i am asking 80,000. and i am told by realtors that it is well worth that and more. i need to sell , can you give me any advise. |
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Vickie
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0.10 Dollars($)
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Post subject: VA lender for manufactured home |
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| I am a realtor trying to find a VA lender for a potential buyer that would like to purchase a manufactured home already set up on land |
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