Posted on: 17th Apr, 2010 09:27 am
If I own the land but my credit is poor, will I still be able to purchase a mobile home using my land?... May I purchase a mobile home using my land as collateral?
with poor credit, your opportunities to obtain a mortgage are limited, but that's not to say that there wouldn't be a lender out there for you. you'd have to shop for one, and it is likely that you'll find a hard-money lender, which means you'll pay a much higher rate than what you may see in advertisements.
Hi,
It is true that getting a loan depends on good credit but, there are lenders who provide loans with low credit score. You have not mentioned about credit, so, if your credit score is less than 580 then you need to search in the market who provides loans with that score. In the mean time try to improve your credit score. About the collateral you need to discuss with the lender.
Feel free to ask questions.
It is true that getting a loan depends on good credit but, there are lenders who provide loans with low credit score. You have not mentioned about credit, so, if your credit score is less than 580 then you need to search in the market who provides loans with that score. In the mean time try to improve your credit score. About the collateral you need to discuss with the lender.
Feel free to ask questions.
