Posted on: 08th Apr, 2009 01:57 pm
:( I am just wondering if they do 100% financing on a moble home on a permanet foundation anymore? If so what companies do?
Hi Natasha,
A mobile home on a permanent foundation should qualify for a loan, unless it is too old. But a 100% financing in the current market situation will not be easy. You have to have a good credit score and income to qualify for one. I think you can seek a no-obligation free consultation with the community lenders. If your profile matches their requirements and they think they can offer you a 100% finance, they will get in touch with you and offer you a free mortgage quote.
A mobile home on a permanent foundation should qualify for a loan, unless it is too old. But a 100% financing in the current market situation will not be easy. You have to have a good credit score and income to qualify for one. I think you can seek a no-obligation free consultation with the community lenders. If your profile matches their requirements and they think they can offer you a 100% finance, they will get in touch with you and offer you a free mortgage quote.
The only 100% loans out there today are USDA loans. Actually, they can go a little over 100% for repairs that will be completed within I believe 15 days. The two limitations for this great program are 1) there is a maximum income cap and 2) The programs are limited to rural areas. Info. on both requirements can be found at the USDA link below.
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do