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Want a Modular
Guest
0.10 Dollars($)
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Post subject: Buying a Modular |
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| We have a mortgage on our 1977 that we bought 3 years age. We would like to tear it down and put a modular in it's place and the city says that we can do that. What do we do about financing since we still have a mortgage on the current residence? |
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Lacy
Guest
0.10 Dollars($)
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Post subject: Modular Home loan |
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| Is there any place to get a modular Home---and finance it---If I have not very much credit at all---But I own my own land to put it on free & clear. How long does something like that take? |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 2619
Location: MICHIGAN
415.87 Dollars($)
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Post subject: |
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To Guest,
You will have to pay off the current mortgage that you have on your existing mobile home. Unless you pay off this loan, you won't be able to get a new mortgage.
To Lacy,
You can contact the dealers who sell mobile homes in order to buy the property as well as get a personal loan. As you've a bad credit, it would be difficult for you to get a conventional mortgage.
Thanks,
Jerry |
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John Able
Guest
0.10 Dollars($)
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Post subject: Refinance/or equity loan |
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| I have a doubloe wide on five acres. The home is not perminant foundated. I am looking to refinance or get an equity loan. Can you do that? |
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cm1979
Guest
0.10 Dollars($)
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Post subject: Mobile Home Financing with land |
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Hi Jessica...We are leasing a double wide mobile home that we have lived in since new. We are buying land 8 acres at the same time. We would like to get a loan to buy the home and the land together. We live in Louisiana. The home has been "tied down" and is bricked around it along with the addition of a front and back porch. Would we be able to get a favorable loan? Please advise.
Thanks |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Post subject: |
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Hi!
Welcome to forums!
To John,
As the property is not situated on a permanent foundation, you won't be able to get a conventional mobile home loan. You will have to contact the dealers giving personal property loans in order to refinance the existing loan or get an equity loan.
To cm,
If the property has a permanent foundation, then you would be able to get financing. You can contact the local lenders giving mobile home loans and apply for it. If you meet the required criteria of the lender, you'll be able to get a mortgage.
Feel free to ask if you've further queries.
Sussane |
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heather f
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0.10 Dollars($)
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Post subject: Co-signer |
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| I have recently gone through a bankruptcy. If I had a co-signer with good credit, would I be more likely to get an affordable loan for a mobile home? |
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Dsfire49
Guest
0.10 Dollars($)
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Post subject: Equity loan |
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| I own a 2006 manufactured home. It is very nice and worth around 160k. I need to borrow about 75k for debt consolidation. I have 690 fico and own the home out right. It is not in a park but on family land. Can anyone help me with this? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10164
Location: Nevada
944.24 Dollars($)
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Post subject: |
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Hi heather,
It won't be possible for you to get a mortgage immediately after bankruptcy though you have a co-signer. You will have to wait for around 2-4 years depending upon the chapter of bankruptcy you file and then apply for a loan.
To Dsfire,
You can apply for a mobile home loan with the local lenders. With a score of 690, you might be able to qualify for a conventional mobile home loan. However, if your home is not affixed to the land, then you will have to go for a personal property loan.
Thanks |
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mpantoja
Guest
0.10 Dollars($)
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Post subject: First time home buyer |
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| Is it possible to buy a used mobile home with 0 down if you have good credit? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Post subject: |
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Hi mpantoja!
Welcome to forums!
Now-a-days, the lenders have stopped giving zero down loans. If you want to take out a conventional mobile home loan, then the lender will want you to give at least 20% down. If you're planning to take out a FHA loan, then the lender will ask for a 3.5%-5% down.
Feel free to ask if you've further queries.
Sussane |
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mobile mania
Guest
0.10 Dollars($)
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Post subject: Refinancing a manufacutered home on rented property |
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| We have been in our manufactured home for 3 years and want to refinance, but it seems to be hard to find a bank to lend when you don't own the property. Is there a list of banks that do this service?? |
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Amanda
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0.10 Dollars($)
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Post subject: NEED HELP |
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| I am desperatly looking for a home to buy. I own land and i am just wanting to put my land up for a home/mobile home to buy. I have a low credit score and i am having a hard time with getting help. I have 3 children in the home and was told by my land lord that i have 30 days to move because they sold the house... please what ever you can do? i need help fast |
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gagirl71
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0.10 Dollars($)
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Post subject: i need help |
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| i need help getting aprove to get a mobile home but my credit it not good so anybody what shall i do? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10045
Location: Alaska
921.83 Dollars($)
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Post subject: |
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Hi!
Welcome to forums!
To Guest,
Unless you own the property, you won't be able to get a mortgage on it. You'll have to purchase the property from the owner and then apply for a mortgage.
To Amanda,
Unless you've a good credit score, it won't be possible for you to qualify for a loan. You should try to rent a property now and start taking steps to improve your credit score. Once your credit score improves, you'll be able to qualify for a loan. You can check out the given page in order to know some steps to improve your credit:
http://www.mortgagefit.com/credit-rating/credit-repair.html
To gagirl,
As your credit is not good, lenders will not be ready to give you a loan. You should improve your credit score first and then apply for a loan.
Sussane |
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