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cbrandt05 · Joined: 28 Sep 2009 Posts: 1 1.32 Dollars($)

We are looking to purchase a mobile home for 41000. It is in a park. My fiance is self employed since 1984 and his tax return shows about 12000.00 for the year. His credit score is about 740. I work for a dr.s office and make 25272.00 annually and have a credit score of about 600. Would you be able to finance us. We can not find financing anywhere. Thank you for your time and we look forward to hearing from you.

smithsussane · Posted: Mon Sep 28, 2009 8:38 pm Post subject:

Hi cbrandt!

Welcome to forums!

As you have a credit score of 600, it would be a bit difficult for you to get financing. The minimum credit score required to get a FHA loan is 620 and conventional loan is 740. As you do not satisfy this criteria, lenders will not give you a loan. However, your fiance can definitely qualify for a FHA as well as conventional loan as he has the required credit score. He can apply for a loan in his name and check out if the lender's agree to it.

You can even speak to the lenders of this community and seek a no obligation free mortgage quote from them. This will let you know what type of rates and terms you would be receiving when you apply for a loan.

Feel free to ask if you've further queries.

Sussane

Guest

On this website, it states a 550 miniumum for a mobile home loan, I guess what I'm saying is why can't I do that? Did you read that my fiance makes 12000. annually, Twelve thousand!

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Would we qualify for a mobile home loan?