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Mobile Home Financing

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Icon Mini Profile m_dandre





Joined: 18 Aug 2008

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Post Posted: Mon Aug 18, 2008 2:17 pm    Post subject: Mobile Home Financing
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I was told that a new law was being enacted whereas If you own your land that you are will be guaranteed a mobile home law. I am looking for that information. Thank you.
Icon Mini Profile jenkin7
jenkin7




Joined: 04 Jun 2007

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Location: Hawaii
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Post Posted: Tue Aug 19, 2008 4:47 am    Post subject:
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Hello dandre.

As far as I know the mobile home should have a permanent foundation and your score should be above 680 to get approve for the Mobile home loan. the lender also accepts 5 to 10 percent down payment.
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Post Posted: Mon Sep 01, 2008 9:20 pm    Post subject:
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FHA will on a mobile home on own land and permanent foundation with all the same guidelines as a stick built house. The lender will probably hit you 1.5 to 1.75 points for the loan, but it's better than any FNMA loan going these days.
Icon Mini Profile brian1
brian1
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Post Posted: Mon Sep 01, 2008 10:30 pm    Post subject:
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Have not heard of any new "law" guaranteeing you anything if you own land?

Can you clarify?

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