Posted on: 11th Dec, 2009 08:47 pm
on disability have a tri mobile home paid for can i borrow
against it
against it
There are a couple of determining figure to figuire out if you can.
1) Is your home on permanent foundation (meaning none of the home came be removed from the floor and moved to a different direction)
2) When ws the mobile home constructed?
Since mobile homes are a little different in their construction type, we need to make sure the homes are not mobile so tha the asset canot be taken away from the property, and that the home is not too old that it exceeds its age resctrictions most mobile homes have for specific loans, which is 1976. The home needs to be built prior to 1976, and must be on permanent foundation.
The other problem with mobile homes for lenders is that, if you do not own the land underneath, lenders become fearful that the homes may depreciate in value faster than that of a regular stick built home that is able to benefit from the possible appreciation of the land it is built on.
If these three items are in your favor, it may be possible to finance the property. you can go to my site that is in my signature, go to loan application, and fill out the short app to let us know a little more about the situation and we can work with one of our 200 lenders to see if they have a loan product for your situation.
Good luck to you!
Let me know the information to this
1) Is your home on permanent foundation (meaning none of the home came be removed from the floor and moved to a different direction)
2) When ws the mobile home constructed?
Since mobile homes are a little different in their construction type, we need to make sure the homes are not mobile so tha the asset canot be taken away from the property, and that the home is not too old that it exceeds its age resctrictions most mobile homes have for specific loans, which is 1976. The home needs to be built prior to 1976, and must be on permanent foundation.
The other problem with mobile homes for lenders is that, if you do not own the land underneath, lenders become fearful that the homes may depreciate in value faster than that of a regular stick built home that is able to benefit from the possible appreciation of the land it is built on.
If these three items are in your favor, it may be possible to finance the property. you can go to my site that is in my signature, go to loan application, and fill out the short app to let us know a little more about the situation and we can work with one of our 200 lenders to see if they have a loan product for your situation.
Good luck to you!
Let me know the information to this