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paige
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0.10 Dollars($)
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| my credit score is 550 or 540 can i get a mobile home loan |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Hi paige,
With a credit score of 540-550, it would be quite difficult for you to qualify for a loan. Even if you want to qualify for a FHA loan, you would require a credit score of 600-620. I would suggest you to improve your credit score first and then look out for a loan.
Thanks |
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nikki
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0.10 Dollars($)
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| i have my on land and trying to get a mobile home but my credit is not that good what cani do |
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nikki
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0.10 Dollars($)
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Post subject: loan |
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| i have my own land and trying to get a loan for a mobile home with not so good creit is that possible |
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Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
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With a bad credit, it won't be possible for you to qualify for a loan. A mobile home loan lender will require you to have a credit score of 700-720. Apart from this, your financial situation, employment details, debt to income ratio, etc. will be taken into consideration before you get a loan. If you do not meet the required criteria of the lender, you won't get approved for a mortgage.
_________________
Good is the Enemy of Great. |
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Melissa
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0.10 Dollars($)
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Post subject: Mobil home loan |
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| We are looking to purchase a mobile home but have bad credit and have a mobile home to sell... What are our options? |
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GEORGE MILLER
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0.10 Dollars($)
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Post subject: NEED TO TAKE A SMALL MORTAGE ON MY MANUFACTURE HOME |
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| NEED TO TALK TO SOMONE OR A PHONE NUMBER MY NUMBER IS 732-678324 THANK YOU |
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adonis
Joined: 22 Oct 2005
Posts: 10267
Location: ALASKA
1046.07 Dollars($)
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Hi Melissa,
In order to sell off the mobile home, you can contact a realtor or list the property in the market. This will help you in getting buyers for the property. As far as purchasing a new mobile home is concerned, you won't get a home loan with a bad credit. If you want to go for a conventional loan, you would require a score of 720. If you do not satisfy the requirements of the lender, then he would not be ready to give you a loan.
Hi George,
You need to contact the local lenders of your area in order to get a mortgage for a manufactured home. Depending upon your financial situation, your credit scores and debt to income ratio, etc. you would get a loan. You can speak to the lenders of this community to get a no obligation free mortgage consultation. This will help you in getting an idea about the prevailing rates and terms and whether or not you would get a loan.
_________________
Procrastination is the enemy of your financial success |
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hl
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0.10 Dollars($)
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Post subject: loan |
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| we have a couple wanting to buy our manufactured home(built 2000) and on its own 12,000 sq. ft. lot in manufactured home community, mostly 55+. How can we help them buy the home? It is their first home to purchase, both work at good jobs, credit worthy. Are they able to get a HUD loan or what? What is required as down payment? |
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ann
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0.10 Dollars($)
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Post subject: mobile home refinance |
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| My 30 year fixed loan w/Vanderbilt Mtg. is %8.90. I am looking to refy at much lower interest rate w/ 20 year fixed. Vanderbilt does not offer refinance packages. Who does? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Hi!
Welcome to forums!
To hl,
The buyers will have to contact a lender and get pre-approved for a loan. Depending upon their financial situation and credit, they would be able to get a loan. If they go for a conventional loan, they will have to pay a down payment of 20% and if they go for a FHA loan, they need to give a down payment of 3.5%. They can speak to few of the local lenders and get an idea about the type of rates and terms they would qualify for.
To ann,
You can contact other lenders of your state and apply for refinance. However, in order to get a refinance, you should have some equity in your property apart from satisfying other required criteria. If you do not have equity in the property, you won't be able to qualify for a loan.
Feel free to ask if you've further queries.
Sussane |
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Louis J. Lenci
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0.10 Dollars($)
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Post subject: Refinance |
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| I am in a Senior Park. 50 years old or better. There is about (120) Senior Mobile Homes in this Park We all pay rent ($435 a month) We do not own the land. |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2650
Location: New Brunswick, New Jersey
489.32 Dollars($)
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Hi Louis,
I guess you want to refinance the mobile home loan that you've in the property. If you're current on your mortgage payments and if you've equity in your property, then you would be able to get a refinance loan. You can speak to your current lender for a refinance. You can even speak to other local lenders offering mobile home loan for the same. If you fulfill the required criteria of the lender, you will be able to get a refinance.
Take care. |
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Lennart Nyberg
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0.10 Dollars($)
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Post subject: Selling a 1976 Mobile home on private land |
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| Is there any mobile home loan available on a 1976 doublewide on private land 2 Acres in Joshua Tree CA 92252 (not permanent Foundation) If you know any lender let us know |
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Niicss
Joined: 03 Oct 2005
Posts: 4772
Location: New Jersey
499.62 Dollars($)
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Post subject: |
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As the mobile home does not have a permanent foundation, it would be difficult for you to qualify for a mobile home mortgage loan. However, you will be able to qualify for a personal property loan. You can contact the retailers who sell mobile homes and apply for such a loan. However, remember that such loans are available at a higher interest rate.
_________________
Good is the Enemy of Great. |
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