Posted on: 15th Jan, 2010 08:31 pm
i want to know if you can get a mortage over the purchase price of the mobile home? I need extra money to set up the land for ultilies.
Hi cjalana,
It is possible to get a mortgage in excess of the purchase price of the mobile home. As far as I know, there FHA offers a Title I loan program to help purchase mobile homes. It helps you finance not just the mobile home, but also the land. The loan also helps you set up the land where you want to put the mobile home. However, the property has to meet the HUD-specified guidelines to qualify for the loan. You can talk to an FHA-approved lender and check out the possibility of getting a Title I loan.
It is possible to get a mortgage in excess of the purchase price of the mobile home. As far as I know, there FHA offers a Title I loan program to help purchase mobile homes. It helps you finance not just the mobile home, but also the land. The loan also helps you set up the land where you want to put the mobile home. However, the property has to meet the HUD-specified guidelines to qualify for the loan. You can talk to an FHA-approved lender and check out the possibility of getting a Title I loan.
>>i want to know if you can get a mortage over the purchase price of the mobile home?
No. There aren't any mortgage programs that'll allow you to purchase a manufactured or mobile home for more then the appraised value.
No. There aren't any mortgage programs that'll allow you to purchase a manufactured or mobile home for more then the appraised value.
