Posted on: 30th Mar, 2011 07:05 pm
My husband and I both have excellent credit (788 & 792) but not a huge amount of money in savings. We want to buy property that, at the moment, has water only, and put a manufactured home on it. We can only come up with about 10% down for the property(not the 20%-25%) at least untill we sell our existing house, but would like to start right away. Any suggestions on the best loan opportunities?
Hi kimandfairel!
Welcome to forums!
Most of the lenders will want you to come up with 20% down payment. If you're unable to pay the down payment, the lender will want you to go for a PMI. If you can afford that, you can contact your local lenders and apply for 30 year or 15 years mortgage as per your suitability.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Most of the lenders will want you to come up with 20% down payment. If you're unable to pay the down payment, the lender will want you to go for a PMI. If you can afford that, you can contact your local lenders and apply for 30 year or 15 years mortgage as per your suitability.
Feel free to ask if you've further queries.
Sussane