Posted on: 12th Aug, 2013 12:28 am
Hello there... I am an adult and I want to move out of my parent's home. I need to know will it be a good idea to buy a mobile home? I work as a cook and make around $1600 a month. Please advice.
Hi Cook,
As you are an adult, you can definitely move out of your parent's property. As a first time home buyer, buying a mobile home will be a good option. But if you wish to take out a mortgage, you should have at least 20% down payment saved in your bank account.
Thanks,
Jerry
As you are an adult, you can definitely move out of your parent's property. As a first time home buyer, buying a mobile home will be a good option. But if you wish to take out a mortgage, you should have at least 20% down payment saved in your bank account.
Thanks,
Jerry
Hi Cook!
Welcome to the forums!
Apart from the down payment factor, you should also check out whether or not you have the required credit score to get the loan. This is one of the important factors that the lender will look into before giving you a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Apart from the down payment factor, you should also check out whether or not you have the required credit score to get the loan. This is one of the important factors that the lender will look into before giving you a loan.
Feel free to ask if you've further queries.
Sussane