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krazyking78
Joined: 06 Oct 2010
Posts: 2
1.55 Dollars($)
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| I am attempting to buy a home, it was a sinlge wide placed on a block foundation, axle and wheels removed. I am unsure of the year it was built but found a paper on the electrical panel that says it was affixed in 1974. I talked to several different lenders, one of which has told me I need to have 20% down. I do not have that right now. Is there any other option. I have called every bank around and they all said it doesn't matter if it is affixed to the land they still won't consider a loan. HELP!? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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Dale Gash
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0.10 Dollars($)
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Post subject: Refinance $46,000 ARM mortgage |
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| I have a large mobile home (on a block foundation) on 2.2 acere lot. I had the land free and clear and paid out of pocket $30K for a access road, land clearing and landscaping, a well , a septic system and a front and back deck for the double wide. I have been paying on the ARM for a year or so. I would like to get a fixed rate. My daughter and family are living in the double wide. |
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wendell amos
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0.10 Dollars($)
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Post subject: want to borrow to buy modular home |
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| home is under owner's mortgage, do i try to finance with mortgage holder or borrow from another lender? |
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bfsmith
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0.10 Dollars($)
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Post subject: Buy moble home |
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| me and my wife want to buy moble home we both work make good money but our credit isnt perfect but my dad has land but i dont want to tie it up. my grandfather is willing to cosign for us he has real good credit. its hard to save money when u have four children in school and sports. what can we do |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 2699
Location: New Brunswick, New Jersey
497.27 Dollars($)
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Hi Dale,
You should contact a property appraiser and check out whether or not you've equity in your property. If you've equity in your property, you will be able to get a mortgage refinance. However, apart from the equity, the lender will also check your credit and financial situation when he approves a refinance for you.
To Wendell,
It will be your discretion whether or not you want to finance with the owner's mortgage holder or borrow from another lender. You can go with some other lender to refinance the loan.
To bfsmith,
As your grandfather is ready to co-sign for you and has a good credit score, you'll be able to qualify for a mortgage. You should contact your local lenders and apply for a mortgage. If all the criteria are fulfilled, you'll be able to get a mortgage.
Take care |
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Shandria
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0.10 Dollars($)
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Post subject: refinance |
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| I have tried to find a company to refinance my moblie/maufactured home. I have been in it for 10 years now and trying to refinance or get equity to do some debt consolidation. It is on a brick foundation. And, it was a land/home package. what can i do |
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Tonycat
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0.10 Dollars($)
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Post subject: Mobile home an |
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| I'm looking to buy a mobile home and rent to god daughter and friends for cheaper than an apartment, what is the process? |
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adonis
Joined: 22 Oct 2005
Posts: 10574
Location: ALASKA
1090.82 Dollars($)
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Hi Shandria,
Do you have equity in the property? You should contact an appraiser and check out whether or not there's equity in the property. If there is no equity, then you won't be able to get a refinance. Moreover, if your property is older than 1976, you won't get a mortgage refinance.
To Tonycat,
You can contact the local retailers in order to buy a mobile home. If you meet the required criteria of the lender, you will have to contact the local lenders offering conventional mobile home loan and apply for it.
_________________
Procrastination is the enemy of your financial success |
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Amado
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0.10 Dollars($)
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Post subject: Manufactured homes |
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| My wife and I are trying to decide on whether to buy a condominium or a manufactured home. We ve been told that mortgage rates for the latter are much higher. How much higher for say a price of $200 000 assuming the same credit rating (excellent)? If you cannot answer directly could you lead me to a website to answer this question (and others) Thanks a lot |
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Ray in Dallas
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0.10 Dollars($)
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Post subject: maunufactured home loan |
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| i'm looking for a lender that will do a loan on a munufactured home on land, that was built in 1974, no one wants to do it because its not on a concrete slab an its built in 1974. been lookin g every where do you have any ideas? i'm approved for a home up to $120k but it must be on a concrete slab. thanks |
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D.S.
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0.10 Dollars($)
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Post subject: buying a log cabin |
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the log cabin was not made off site- cannot be transported but is on a site with other cabins(all comply with build regs/insulation etc) where an annual rent is paid. Cabins can be let by owners 12 months of year
Can we apply for an ordinary mortgage for this ?
DS |
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Clara
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0.10 Dollars($)
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Post subject: Mobile home loan |
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| Do you know of a lender that will loan on a mobile home on a lot with no permanent foundation? the loan will be approx. $37,000 in California |
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smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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Post subject: |
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Hi!
Welcome to forums!
To Amado,
I haven't heard that mortgages on manufactured homes have higher interest rates compared to condominiums. You should shop around and contact the local lenders in order to find out what type of rates and terms you'll receive for condominiums and manufactured homes.
To Ray,
Manufactured homes which are build prior to 1976 do not qualify for mobile home loans. That is the main reason why you're not getting qualified for a mortgage.
To D.S.,
If the property meets all the required criteria as per HUD, then you'll be able to get an ordinary mortgage on it. You'll have to contact the local lenders of your area and apply for the loan to find out whether or not you'll get one.
To Clara,
If the mobile home does not have a permanent foundation, then most lenders won't be ready to give you a mortgage. In that case, you can contact the retailers who sell mobile homes and apply for personal property loans.
Sussane |
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Desperate
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0.10 Dollars($)
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Post subject: Can you help me before I lose my house. |
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I have had late pays and my credit is poor. My home is currently in a park where they made it possible for the homeowners to by the land in the park. I would love to do that because at this time my mortgage is around 700.00 and I'm paying 925.00 for space rent. I want to refinance my home and include the purchase of the land with this refi and also pay off all of my debt. Could you help me with this?  |
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