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I need a loan for a mobile home on land and2 garge. all i want is to owne my on home

brian1 · Posted: Sun Jul 06, 2008 1:33 am Post subject:

Hi Guest have you applied yet to see if you can qualify for financing? FHA offers some relatively easy programs that will finance a mobile? It has to be on its own property and attched to a permanent foundation first.

Applying isnt hard and it allows you to see what you need if you dont qualify

Good Luck
Brian

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Guest.

Welcome to the forum.

I have to agree with Brain that FHA offer some good programs for financing mobile home. But the mobile home should have a permanent foundation and you should have credit score more than 660. So haw good is your credit?

BTW check out the article "Mobile home loan - How to qualify and what are the options?" at http://www.mortgagefit.com/mobile-homeloan.html

Hope that helps. Feel free to ask if you have any further questions.

Best of luck,
Larry

jbarto65 · Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)

You will want to first go on one of the three credit reporting websites and find out what your credit score is, you can visit experian, transunion or equifax and be able to obtain this information.

Or

you can just go to your local bank and apply to find out what you status is, if you are approved, great, if not many banks have referrals services that they will give you. These may be to financial institutions other than banks, like finance companies that will offer you credit when an everyday banking institution won't. They are often higher intrest.

The good thing is that you can start building your credit or repairing your credit with this type of loan also. Keep in mind that if your credit is not that good and you have to use one of these companies, you may need a co signer or they will use the property and home as collateral.

Hope this helps, the reason that I know this is this is the route that I had to take. Once I paid on the loan for a few years and was not late, I refinanced into a better rate.

Goodluck, I hope that you get what you want, a home Very Happy

jasonpolito · Posted: Tue Jul 08, 2008 8:25 am Post subject:

The last post by JBarto says it best. I really hope you get the loan you need, and get everything worked out!

jbarto65 · Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)

Sometimes when we have made mistakes in the past it will haunt us for a long time, so we have to go into repair mode and clean up the mess, that is what I had to do. It is tough and time consuming but worth it in the end. Sometimes I will still get a month or two behind but always get caught up some how, I am still working on the discipline of not spending money.

The mortgage that we got was at like 12% at first and then we paid on time for a few years and now our rate is 6.99% which is good for our credit scores. We are still in repair mode, that will take a long time yet.

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i need a loan for a moible home on land and2 garge