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kari
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0.10 Dollars($)
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Post subject: average interest rates for mobile homes |
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| Hi, my husband and I have never owned a home before. We are currently renting a really nice 3 bedroom mobile home in a nice park in southern california with our 2 children. My husband has limited credit since he just got his first car loan in 2008. And I filed for bankruptcy before he and I met. Which was discharged in 2006. But we both have scores of around 620 each. Our landlord wants to sell the mobile home we are living in within the next year. So we are looking into options to buy it. Do you know what kind of interest rates we would be looking at? The selling price right now for this mobile home is 47,000. We just are not sure we qualify. We both have jobs in the medical field. Our combined income is 50,000 a year conservatively. Thanks for your help! |
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geisha chappell
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0.10 Dollars($)
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Post subject: im looking for a loan but self employed |
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| is there anyway u can help me |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Hi!
Welcome to forums!
To kari,
Interest rates keep on varying on a daily basis. You can get a better interest rate if you have good credit score and a stable income. With a credit score of 620, you would be able to qualify for a FHA loan but not a conventional loan. Such loans would require a credit score of 720. You may take steps to improve your score so that you may apply for a conventional mortgage next year. Check out the given page to know some steps to improve your score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
To Geisha,
You will get a loan depending upon various factors. If you have the income proof for the last 2 years, excellent credit score, good dti ratio and will be able to afford a down payment, then it would not be difficult for you to get a loan. You can contact your local lenders or speak to the lenders of this community and seek a no obligation free mortgage quote in order to know the type of rates and terms you would receive.
Feel free to ask if you've further queries.
Sussane |
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roberto barrera
Guest
0.10 Dollars($)
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Post subject: |
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| i need a mobile home loan a.s.a.p.!!! |
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tim cline
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0.10 Dollars($)
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Post subject: refinancing a triple wide mobile home & 10 acres of land |
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To whom it may concern. My wife & myself want to refinance our triple wide mobile home(year 2000) & 10 acres of land. We have two loans now & want to combone the two togather to get a better intrest rate & do a cash out if possible. I work a part time job here in Lake City & my wife has worked at dollar general for over two years & recently got a part time job also. The home was appraised at 63,000,00 & the land at 91,000,00, we have two loans & would like to combine them. Can you help us with this matter.
[Email address deleted as per forum rules. Thanks.] |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Post subject: |
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Hi tim,
Depending upon the equity that you have in the property, you would be able to get a refinance and combine your land and mobile home loan. Also, the lender would check out your credit report before refinancing the loan. You can speak to your current lender in order to refinance the loan. This community also has a number of lenders. You can speak to them and seek a no obligation free mortgage consultation from them and check out the type of rates and terms you would receive.
Thanks |
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lkg
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0.10 Dollars($)
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Post subject: |
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| I need to know if my home is considered manufactured or modular. How do I find this out? |
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Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
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Post subject: |
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As far as I know, whether or not your property is a manufactured or modular one would be mentioned in your property deed. You should check it out in order to know the same.
_________________
Good is the Enemy of Great. |
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aaaaaaaaaaaaaaa
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0.10 Dollars($)
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Post subject: refi |
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| 20 yr fixed |
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WADRAGONFLY
Guest
0.10 Dollars($)
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Post subject: Can I use half cash and mortgage the remainder |
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Hi, I am trying to find out if what I want to do is legal/doable.
I have 10 acres in WA, there are many things that need to be done to the home site before I put a modular on it. The total cost is approximately $155,000 (for the work and the cost of the modular). Can I pay half of this amount with cash and then get an FHA mortgage for the remainder. Thank you for your time and assistance with this matter. |
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John r
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0.10 Dollars($)
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Post subject: mobile home financing |
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| My former girlfriend owns a mobil home which I hold the mortgage for. She has a 724 credit score. The problem has been that her name is attached to a mortgage we hold together which is paid on time and current. The house is rented with the option to buy with her name on the lease to try and 0 out her debt to income ratio. We are having a hard time finding a company to re-finance the morgage so I can get the $60,000 she owes me for the private mortgage. Please help us. The mobil home was purchased new for 110,000, 2 years ago. Thank you |
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Cecilio Valenzuela
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0.10 Dollars($)
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Post subject: Mobile home |
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Hello.
My name is cecilio .0I been thinking about purchasing a mobile home, but i have bad credit and i am low income. I heard that thre is ways you can purchase a mobile home with gov help. i made 1800.00 $ last year and have a one year old son . if there is any info you can give me it'll be great. |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Post subject: |
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Hi aaaaaaaaaaaaaaa,
If you want to refinance your home loan, you should first check out whether or not your property has equity in it. If there is equity in the house, then it would be easier for you to qualify for a loan. What type of credit score do you have? You should have a credit score of at least 700-720 to qualify for a mortgage.
Hi Wadragonfly,
As far as I can understand the situation, you would be able to pay half of the amount in cash and go for a FHA loan for the rest of the amount. However, getting a loan would depend upon your financial situation. Also, you need to satisfy the required criteria of your lender.
Hi John,
Did the lenders give you any reason as to why your girlfriend won't be able to refinance the loan? She has a good credit score. Does she has a financial hardship?
Hi Cecilio,
You may go for the FHA loans in order to buy a mobile home. You should have a minimum credit score of 620 in order to qualify for a FHA loan. Apart from this, you should not have much negative items on your credit report in order to qualify for a FHA loan.
Thanks |
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george west
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0.10 Dollars($)
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Post subject: refinance my home/with custom built basement,all built heavy |
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| can i refinance at 15yr.low fixed rate?house was built in yr.2000,with alot of overkill,bsmt.extra heavy duty custom built.Over top of bsmt.is 10"I beam frame,w/12"floor joists w/7/8"subflooring,6"external walls w/r28 inslt.roof has 8"rafters w/r44 inslt.5"/12"roof pitch,all plumbing fixtures are moen |
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george west
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0.10 Dollars($)
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Post subject: refinance my home/with custom built basement,all built heavy |
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| can i refinance at 15yr.low fixed rate?house was built in yr.2000,with alot of overkill,bsmt.extra heavy duty custom built.Over top of bsmt.is 10"I beam frame,w/12"floor joists w/7/8"subflooring,6"external walls w/r28 inslt.roof has 8"rafters w/r44 inslt.5"/12"roof pitch,all plumbing fixtures are moen.My credit rating,as of 3/8/2010 is 697. |
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