Posted on: 24th Sep, 2009 11:10 am
My mobile home burned down last year 11/08. I want to purchase a new mobile home costing $279,000.00.
The home itself is $157,000.00 all the rest is transport, tie down, landscaping etc which is required by the park.
Insurance is paying $170,000.00 towards the home and I am putting down $20,000.00. I need a loan for the remainder $89,000.00. Our credit is bad due to late payments. Is there a company that is willing to lend the remainder amount?
The home itself is $157,000.00 all the rest is transport, tie down, landscaping etc which is required by the park.
Insurance is paying $170,000.00 towards the home and I am putting down $20,000.00. I need a loan for the remainder $89,000.00. Our credit is bad due to late payments. Is there a company that is willing to lend the remainder amount?
Hi bonbonplime,
You haven't mentioned what your credit is like. However, just remember that with a bad credit, it would be difficult for you to get a mortgage. If you want to qualify for a conventional loan, you would require a credit score of 740. If you're planning to go for a FHA loan, then you would require a credit score of 620. If you do not satisfy this criteria, it would not be possible for you to get a loan.
You haven't mentioned what your credit is like. However, just remember that with a bad credit, it would be difficult for you to get a mortgage. If you want to qualify for a conventional loan, you would require a credit score of 740. If you're planning to go for a FHA loan, then you would require a credit score of 620. If you do not satisfy this criteria, it would not be possible for you to get a loan.
In the current market it is really hardtofind anyone who can give a loan for some oen with bad credit
MAy be you cna check FHA loans depndign on how bad your credit is
MAy be you cna check FHA loans depndign on how bad your credit is