Posted on: 18th Aug, 2008 02:17 pm
I was told that a new law was being enacted whereas If you own your land that you are will be guaranteed a mobile home law. I am looking for that information. Thank you.
Hello dandre.
As far as I know the mobile home should have a permanent foundation and your score should be above 680 to get approve for the Mobile home loan. the lender also accepts 5 to 10 percent down payment.
As far as I know the mobile home should have a permanent foundation and your score should be above 680 to get approve for the Mobile home loan. the lender also accepts 5 to 10 percent down payment.
FHA will on a mobile home on own land and permanent foundation with all the same guidelines as a stick built house. The lender will probably hit you 1.5 to 1.75 points for the loan, but it's better than any FNMA loan going these days.
Have not heard of any new "law" guaranteeing you anything if you own land?
Can you clarify?
Can you clarify?
