Posted on: 04th Jul, 2009 06:06 pm
How much do we ask for in a loan if it is on our own land and will a FHA loan help. I would like to buy a home where we live but am not sure how much a FHA loan will grant us for where we live (Natchitoches, Louisiana) and we would like to one build our one home 30+ years from now What the best plan Mobile home or Home?
Hi caramel_star_maroon,
You will have to contact the lenders of your area and check out if you qualify for a loan or not. Qualifying for a loan will depend upon your income and your credit score. If you want a FHA loan, you should have a credit score of at least 620. In case, you qualify for a FHA loan, you'll have to pay a down payment of at least 3%. No downpayment loans are not available these days. You can check out the following page to know mroe on mobile home loans:
http://www.mortgagefit.com/mobile-homeloan.html
Thanks
You will have to contact the lenders of your area and check out if you qualify for a loan or not. Qualifying for a loan will depend upon your income and your credit score. If you want a FHA loan, you should have a credit score of at least 620. In case, you qualify for a FHA loan, you'll have to pay a down payment of at least 3%. No downpayment loans are not available these days. You can check out the following page to know mroe on mobile home loans:
http://www.mortgagefit.com/mobile-homeloan.html
Thanks
Hi caramel,
Welcome to our forum.
If you wish to get loan on land as collateral for loan, you can apply for FHA ( Federal Housing Administration ).Check it out, Are you qualified for get loan?
FHA loan must have 620* Credit score as well as you have to pay 3.5% down payment to take loan & you latest bank statement from your bank. And other terms & conditions will apply as you location.
There are two main types of mobile homes, Mobile home mortgage loan & Personal Property loan.
Thanks & Regards.
gunz.ijjistaff. :roll:
______________________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure.
Welcome to our forum.
If you wish to get loan on land as collateral for loan, you can apply for FHA ( Federal Housing Administration ).Check it out, Are you qualified for get loan?
FHA loan must have 620* Credit score as well as you have to pay 3.5% down payment to take loan & you latest bank statement from your bank. And other terms & conditions will apply as you location.
There are two main types of mobile homes, Mobile home mortgage loan & Personal Property loan.
Thanks & Regards.
gunz.ijjistaff. :roll:
______________________________________________________________________
You can ask your queries to us anytime & we will definitely help you, Its our pleasure.
