options are available for us? We don’t have a down payment (we might could come up w/ 00 before closing). We didn’t think we’d find the property so soon….and it’s too good to pass up. Our offer has already been accepted on the property.
We need to finance more money than the cost of the land, to pay for expenses such as setting it up on a permanent foundation, clearing the land, new (log) siding, installing the septic, etc.
Most land loan places will only do 15 or 20 yr. financing. We need 30yr. to get the payments low enough. We only owe 18yrs. left on the home (it is a 2004 model) and would really like NOT to have to refinance it. If we had to refinance the whole thing to make this work we would. Most places also do not want to deal with mobile homes because of the stigma and stereotypes placed on them. We are not rednecks….we both have good paying jobs. Our house does not look like a mobile home on the inside and once we put log siding on the outside, it will look better than any other stick built home around the block.
I don’t think I left anything out. What would our options be? How do we get past this stereotype?
added…we bought the home new in 2004. It was refinanced 2 years ago and is now on a 20 yr. mortgage. Right now, the house is on my husband’s parent’s property. We obviously want our own property. We could afford a 200,000 house somewhere, but we are pretty much stuck with the house being that we don’t own the land and would lose money if we sold just the house off of the property. It’s a great house though, so we’d love to just move it to the great property and be done with it. Easier said than done!
hybrid ……good article but we have great credit.

Technorati Tags: good paying jobs, land loan, log siding, love, mobile home, Mobile Homes, money, mortgage, stereotype, stereotypes, stigma

something with character. I am in love with log homes, but they are not too energy efficent. I am looking to build modular, but I can’t find any good sites with enough pictures and designs of what I want. Plus does anyone know where I can find the green roofs which are metal? Thanks.

Technorati Tags: energy efficent, green roofs, log homes, love

I am not sure how I will handle this situation regarding possible taxes (capital gains?) that I may have to pay, (or not). What happened is: my mother had a manufactured home she bought for cash (0k) about 3 years ago. About 2 years ago we transfered the home into my name (removing mother’s name from house) because we knew she’d have to go into a nursing home somewhere down the road. This past summer in Aug ‘08 she finally had to go into a nursing home (she has alzheimers which was slowly getting worse). Now I have the empty house in my name which I need to sell soon. I will only be able to get about k for it now with market drops this past year. My question: Once I sell the home and get the proceeds, will that be reported to the IRS and will I have to pay any kind of short term or long term capital gains, or any other type of taxes, on the sale of this property – considering the time frames are fairly short, for example its only been in my name for about a year. Thanks to any tax/finance experts who can help me with answer this question (or anyone who’s been in the same situation).

Technorati Tags: 3 years, alzheimers, finance, irs, long term capital, long term capital gains, manufactured home, nursing home, proceeds, time frames

I always have a fear of buying a manufactured home vs a stick built. I’m a first time homebuyer and really rather own than rent. I looked at various real estate agencies that sell stick built and manufactured homes. A stick built that falls within my range are 2 bedrooms 1 bath and are built in 1909-1920, while a manufactured home has 4 bedrooms 2 bathrooms and is 30K less than a stick built home and is built around 1998. I’m not planning to stay in the city more than 2 years until I’m finished with college, I have a very good credit score and manage my finances very well. I have a lot of reservations about purchasing a manu home because I fear that there must be something wrong with a manufactured home because the price is so cheap Can anyone give me insight on this? Is buying a manufactured home a horrible idea for a first time homebuyer?

Technorati Tags: bathrooms, bedrooms, credit score, fear, first time homebuyer, horrible idea, insight, manu, manufactured home, real estate agencies

My mom has 80 acres she has a mortgage on. We have a mobile home on about 3 acres of it. we want to refinance. Can she give us the 3 acres? she has about 5 years left on her mortgage. Also what would we need to do to make this happen. can she just do a warranty deed or a quick claim deed or what.
We are wanting to refinanace our property. It is currently financed with another 50 acres as collatoral. we are buying a new place and want to refinance our current. The rate the bank gives us using the collateral that is not the land the house is on is an adjustable rate and we are tying to get to where we can get a fixed rate. We have excellent credit.
Also land has been surveyed and platted a few years ago but not recorded with the county.

Technorati Tags: collateral, collatoral, fixed rate, mobile home, mom, mortgage, quick claim deed, warranty, warranty deed

We purchased a new mobile home 9 years ago. At that time, we financed approx. ,000, a 30-year mortage, with the fixed interest rate of 9.25%. Our montly payment is only 0. Here it is, nearly 10 years later, we still owe ,000 and no bank will refinance because they say the home is not worth it. SO, I’ve been making add’l payments, usually about an extra a month. My question is, when I apply that add’l pymt. (which is on a separate check and indicates "add’l principal") why does nearly all of my initial 0 pymt. go to interest?
If I only make my 0 payment, more goes towards the principal. I’m not making headway either way it seems. I don’t understand this. We were young & naive when we bought this home, and now we’re stuck.
Currently we do not own the land it is on, but we do own 6 acres that we plan to move the home onto. Would this qualify me for a FHA loan then?

Technorati Tags: 10 years, amp, fha loan, fixed interest, headway, interest rate, mobile home, mortage, pymt

My husband and I are in a real pinch, and we have to move FAST. We don’t exactly have cash to buy a house. We are considering buying a mobile home. We can’t afford a HUGE down payment, like ,000 or ,000. So we can’t really buy a home over 50 grand. We have to move out really soon, and we hav epermission from family to move one on their land since we don;t own our own land. What’s the best way to finance? We’re looking for NO cash down if possible. Plus what are some pitfalls of buying a mobile home? The dealers mentioned turning a home in to trade like you would a car, but I’m not too hot on the idea, cause after you spend double what your orig price was, you wanna buy something better later. I think it’s best to get the luxuries NOW and not have to pay for 2 homes, for the price OF 2 homes! We’re having a HARd time trying for a small single, we prefer a double, that’s not over 70 ft long and we’ve seen some pretty expensive ones so far. the cheap ones we’d consider are like 30-35 grand. The most expensive ones are about 70 grand. So if we got 2 singles in 20 years(which is stupid) it’d be the same price as 1 lux. I prefer just to buy ONE house and be done with it. What’s your take? Any good websites? ANY advice? I live in KY. No jokes please! PLEASE HELP ME!!!!!
Whe I said trying for a small single. I meant we’re having a hard time dealing with such SMALL space.
Honestly. We need to move in te next month or two. We don’t exactly have 5-10 grand laying around. We can’t really afford over 2500 as a down payment. If we could afford 10 grand, we’d just buy a used one. But we can’t do that with our budget.

Technorati Tags: budget, hard time, luxuries, mobile home, move one, pitfalls

can seem to find a loan for that small of amount.

We own 1.25 acres of land that is paid for. I have a not so good credit history that im trying to fix and my fiancee (not married yet) is building her credit and has a great payment history with a couple of accounts. We also make about 000/year between the two of us. I have been at my job for almost 5 years. We have about 0 in debt. which isnt much. We want to use the land as a down payment. Do you think it is possible to get this place financed? We can pay as much as 0/month for a mortgage. If it isnt possible what should we do to make it possible?
Does anyone know of good mortgage companies I should deal with?

Technorati Tags: credit history, fiancee, job, mortgage companies, payment history

When I got divorced we agreed he would take over the mobile home, including payments. Unfortunately he was unable to refinance into his name alone. I wasnt worried because it was in the divorce decree that he was taking the home. Now he is going ch13 and the mortgage company is coming after me. i have absolutely no income and dont know what to do. I have been advised to go ch 7 to clear my self of this huge debt.

Technorati Tags: ch 7, ch13, divorce decree, mobile home, mortgage company