Anonymous
Posted on: 28th Nov, 2006 10:29 am
looking for a lender on a 1997 permanent foundation double-wide and 2.5 acres
Hi,
We do have a community of ranked lenders who specialize in financing loans for mobile homes in different states of the United States.
If you can provide us some detailed information about you that from which state you are looking for the loan and regarding your credit score. Then it will be easier for us to choose a right lender from our community for you.
Regards,
Jessica
We do have a community of ranked lenders who specialize in financing loans for mobile homes in different states of the United States.
If you can provide us some detailed information about you that from which state you are looking for the loan and regarding your credit score. Then it will be easier for us to choose a right lender from our community for you.
Regards,
Jessica
Hi Amydcrumley,
Why are looking for 100% financing loan. Are you aware of that the interest charged on these type of loans are generally higher than the loans which are equal to a lower percentage of the sale price or appraised property value. You need to pay high amount of mortgage indemnity guarantee and an insurance policy which protects the lender if you fails to repay the loan.
And in future, if the price of the property decreases, then you will have negative equity.
I suggest that if you have good credit score and you do not have enough money to make down payment then only go for this.
Otherwise try to choose any other option which is more suitable for you.
Thanks
Why are looking for 100% financing loan. Are you aware of that the interest charged on these type of loans are generally higher than the loans which are equal to a lower percentage of the sale price or appraised property value. You need to pay high amount of mortgage indemnity guarantee and an insurance policy which protects the lender if you fails to repay the loan.
And in future, if the price of the property decreases, then you will have negative equity.
I suggest that if you have good credit score and you do not have enough money to make down payment then only go for this.
Otherwise try to choose any other option which is more suitable for you.
Thanks