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luvinit_21921 · Joined: 31 Oct 2009 Posts: 1 1.41 Dollars($)

ok .here is my situation.i went threw 1st home lending and was approved to buy a home in fl for 93k.i had to back out of it due to my is all up north and they are in need of my presence( parents).my credit score is 667.i have been on my job for almost 2yrs and i am a over the road trucker.the mortgage company pulled my credit twice already which i dont know if that effects my score and i know mobile home depreciates but thats the price im willing to pay to be around my family. my question is is the qualifications different to get a mobile home loan then a regular house loan..and i was looking at a 5.75% lock in.can you tell me if im looking at a larger pcnt to pay on a mobile home loan..what would also be a wonderful down payment on a mobile home so it would lower the interst rate and last but not least..if its an older trailer what percent would the loan cover for that like say a trailer 10yrs old..would i have to put 30pcnt down.

raymond · Posted: Sat Oct 31, 2009 10:19 am Post subject:

FHA or VA mortgages are the best in today's environment to purchase a manufactured home. The down payment is 3.5% with FHA and 0 with VA. The home must be manufactured after June 15, 1976 and be on a HUD-approved permanent foundation.

Even some FHA and VA Lenders have investor overlays that say they won't do Manufactured Homes anymore, but there are still a few companies left. Sun West Mortgage out of Cerritos, California, has a 30 year fixed 6.5% program for Manufactured Homes with 3.5% down.

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would i get a loan