Question : Can I take out a home loan for land and a manufactured loan?
By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land?Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?
- asked by Jak K
All Answers:
Answer #1
no/yes
- answered by catchmeha
Answer #2
To have a mortgage loan you must have landinvolved, so no trailer park rentals. Lender'sare not fond of mobile homes because they losevalue - unlike a stick-built home which willappreciate in value. You are unlikely to find100% financing for a mobile home. 90% or less isthe norm and that is with good credit. Yourinterest rate will be higher as well.If you arebuying this as an investment (in your ownfuture-not as an investment property) you shouldlook into a modular home. Anything but a mobile. You won't get out what you put into a mobile. That said, there are some very nice mobile homesout there.
- answered by thinking-guru
Answer #3
Want a mobile Home Loan? If the home is in a parkon rented land financing will be MUCH easier.InPark / Rented Land:JCF AcceptanceRefi.NetMHLoansOrigen Financial Aaron FinancialMountainsideFinancialLand/Home Loan:Amy Leshner -FCMCountrywide FinancialGood Luck,Peter
- answered by Peter F
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