Posted on: 12th Apr, 2010 12:54 pm
i own a manufactured home with an NADA appraisal at $22,000,and it needs to be moved. i need a loan to buy the lot and install septic,hook up to city water ,do concrete work, put in a permanent block foundation,dig trench for underground electric,put up a chain link fence,and move the home.the lot i am wanting to purchase is undeveloped and is appraised buy the county i live in at $4,000.i would like to get a loan for $24,000.i have a poor credit rating.
Hi chiefsfangaletti!
Welcome to forums!
With a poor credit rating, it would be difficult for you to get a loan. What is your credit score like? If you would like to go for a conventional loan, you should have a credit score of 700-720 whereas if want to go for a FHA loan, you would require a score of 620. If you do not satisfy this criteria, you won't be able to qualify for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
With a poor credit rating, it would be difficult for you to get a loan. What is your credit score like? If you would like to go for a conventional loan, you should have a credit score of 700-720 whereas if want to go for a FHA loan, you would require a score of 620. If you do not satisfy this criteria, you won't be able to qualify for a loan.
Feel free to ask if you've further queries.
Sussane