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caramel_star_maroon · Joined: 23 Jun 2009 Posts: 9 5.13 Dollars($)

How much do we ask for in a loan if it is on our own land and will a FHA loan help. I would like to buy a home where we live but am not sure how much a FHA loan will grant us for where we live (Natchitoches, Louisiana) and we would like to one build our one home 30+ years from now What the best plan Mobile home or Home?

jameshogg · Posted: Sat Jul 04, 2009 10:54 pm Post subject:

Hi caramel_star_maroon,

You will have to contact the lenders of your area and check out if you qualify for a loan or not. Qualifying for a loan will depend upon your income and your credit score. If you want a FHA loan, you should have a credit score of at least 620. In case, you qualify for a FHA loan, you'll have to pay a down payment of at least 3%. No downpayment loans are not available these days. You can check out the following page to know mroe on mobile home loans:
http://www.mortgagefit.com/mobile-homeloan.html

Thanks

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi caramel,

Welcome to our forum.

If you wish to get loan on land as collateral for loan, you can apply for FHA ( Federal Housing Administration ).Check it out, Are you qualified for get loan?
FHA loan must have 620* Credit score as well as you have to pay 3.5% down payment to take loan & you latest bank statement from your bank. And other terms & conditions will apply as you location.

There are two main types of mobile homes, Mobile home mortgage loan & Personal Property loan.

Thanks & Regards.

gunz.ijjistaff. Rolling Eyes

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there is a mobile home that my husband & I want it 85,990