Posted on: 07th Jul, 2009 12:54 am
we have a down payment and decent credit pay all our bills on time but there doesn't seem to be anyone who can help us everyone says that is to much land or they don't finance mobile homes help me understand this and figure something out thanks
Hi John,
If you have a down payment and decent credit, you should not have a problem to finance the mobile home and the land. Do you have free and clear title to both the land and the home? Is the home placed on a permanent foundation? How old is the home? The lenders take into consideration many such things, apart from credit scores and down payment, before approving your loan.
You may like to go for a no obligation free mortgage quote with the lenders in this community. They will assess your financial situation, your credit score and other required factors. If you qualify, they will get in touch with you and offer you free mortgage quotes. If you find the quotes attractive, you can work with them to get approved for a loan. Else, you can contact other local lenders and get mortgage quotes from them as well.
If you have a down payment and decent credit, you should not have a problem to finance the mobile home and the land. Do you have free and clear title to both the land and the home? Is the home placed on a permanent foundation? How old is the home? The lenders take into consideration many such things, apart from credit scores and down payment, before approving your loan.
You may like to go for a no obligation free mortgage quote with the lenders in this community. They will assess your financial situation, your credit score and other required factors. If you qualify, they will get in touch with you and offer you free mortgage quotes. If you find the quotes attractive, you can work with them to get approved for a loan. Else, you can contact other local lenders and get mortgage quotes from them as well.
Hi John,
Before Financing they check your ability to pay EMI also. if land is not having any dispute then you need to check the reasons on what basis they are declining the loan
Before Financing they check your ability to pay EMI also. if land is not having any dispute then you need to check the reasons on what basis they are declining the loan