Posted on: 06th Feb, 2009 11:23 pm
we found a 1999 triplewide valley quality home. new value is $135,000.00 new. don't depreciate much. private seller. our credit union will not loan on it due to it not being on a foundation. it is sitting in a lot waiting to be delivered to buyer. we own a half acre with an older double wide on it. they won't loan on our land either with the older home on it. how do you get a loan on a home that is broken down for transport and still need to live in the doublewide until we can find financing for the triplewide. the seller wants $50,000.00 for it which is a steal for it.we own a rental home with a mortgage, and my husband did a chapter 13, 6yrs ago. got caught up in less then 3yrs. he works for Union Pacific RR. makes over $53,000.00
Hey Linparv,
As the new property does not have a permanent foundation, lenders will not be ready to give you a loan. You can try for a personal property loan in this case. Check out with the lenders of your area and see if you can qualify for a personal property loan.
As the new property does not have a permanent foundation, lenders will not be ready to give you a loan. You can try for a personal property loan in this case. Check out with the lenders of your area and see if you can qualify for a personal property loan.