Posted on: 06th Aug, 2010 04:59 pm
I have a 2008 manufactured home 32x80(2314 sqft). The house is on a HUD appproved permanent foundation(foundationworks). I have been renting the lot from my parents, and they have agreed to sell it to me. They have a loan on the lot(which is 1 acre). I am running into problems with getting financing because i own the house but not the land. I would like to do a regular home mortgage and combine the house and land, and detitle the house. Any info would be great!
Thanks Walt
Thanks Walt
welcome houghtonjr,
you will have to refinance the loan in order to include the property and the land into one loan. you need to contact the local lender and apply for a loan. the lender will check out the whole scenario as well as your financial status and credit scores before approving you for a mortgage.
you will have to refinance the loan in order to include the property and the land into one loan. you need to contact the local lender and apply for a loan. the lender will check out the whole scenario as well as your financial status and credit scores before approving you for a mortgage.