I own a mobile home that was built in 1976. I own it out right, no mortgage. I am trying to find a company that does financing or refinance I guess on a model this old, to do some very much needed home improvements. Do you know of any or recommend any?
Mail this post
My wife and I are currently looking at a manufactured home with 1.8 acres of land in South Carolina, it is a doublewide home, on a permanent foundation, currently it is "unhabitable", in that the sinks have been removed and may need some electrical work. Trying to find a mortgage is killing us. Our credit scores are in the low 700’s. We have been pre approved for twice as much as this purchase would be. Are there other options like getting it as an investment property or doing a land loan on it? I need to know if this is even possible, or if there is a way to beat the loan system that is making it super hard to get a loan on a manufactured home.
Mail this post
I own 8 acres of land a 2007 Singlewide mobile home that is combined in the same mortgage. Im interested in refinancing the home and the land for a better intrest rate. My current intrest rate is 7.5% fixed.
My home is FHA approved. My actual question is where can I find a lender willing to refinance the land and home in my area? (Stone County, Mississippi)
Notice most lenders wont touch a used mobile home.
What about the lands value? Doesn’t that help?
Thank you.
I owe 8,000.00 total.
Mail this post
My husband and I bought a manufactured home 4 years ago. The home is on a foundation, but of course the home is still movable. We want to keep the land that the home is currently on but have the home moved to another lot. After talking to a loan officer at the bank we have our mortgage through we had started making plans to build a home on the lot that the home is still on. The loan officer indicated all we need to do was refinance the home onto the other lot to release the lean on the property that the home is currently on. However, after finding a buyer for the home(once it was moved) ,finding a contractor to build our new home, buying blue prints, getting approved for the construction loan, and having all the people needed to move the manufactured home and pour footers and build the block ready to go, the same loan officer who told us all we had to do was refinance said oops she was wrong the mortgage has to be paid in full before the home can be moved. We are devastated and are still trying to make this happen. If a bank would let someone finance the home and lot based on what the home would appraise for after it is moved and set up, we could pay off the mortgage. The problem is I cant find any bank who is financing mobile homes . If anyone has any suggestions or ideas on how this could possibly work. I would very much appreciate any help.
I dont want to build on the other lot. I live next door to my grandmother and I want and need to be close to her. Also we purchased the other lot with the sole purpose of moving the home on it. I wouldnt want to build there. Also I have all the money needed to move the home and build the foundation (8000$) and we would pay for that not the buyer!!
Mail this post
and put another home(possibly modular home due to limited income) in it's place. But should I build a two car garage with an apartment on top of it first to have somewhere to stay while the house is being demolished and rebuilt? How long does it take to demolish a house and put a modular home in it's place? And do you have any idea how much all of this will cost? I'll probably have to finance everything, and could probably only afford an 80,000 mortgage. Thanks in advance!
Mail this post
Hi All,
I am trying to help my mom out but I'm not sure where to go and what to ask. Her mortgage is on a 5-1 ARM and she is currently on her ARM which will expire again in December of 09 (6 months). She refied at 5.25% 5 years ago (with Wells Fargo) but it went up to 6.5 with the ARM. She currently owes 122k with an estimated value at 215k. She has always paid her mortgage, never late and has excellent credit. However the challenge is that she was recently laid off and is receiving unemployment. I checked into the HASP (home affordable refinance program) a bit and it doesn't look like she can qualify for the refinance but potentially the modification? but again I am not sure if that will help as she is on an ARM. Oh and I have verified the loan is not guaranteed by Freddie Mac or Fannie Mae.
P.S. This is a manufactured home placed on a foundation with land if that makes a difference
Any advise would be greatly appreciated
Thanks
Gordon
Mail this post
into a condo, It's a manufactured home and I refinanced 3 years ago would it be best to buy a condo or try to refinance My int is 9% I am really confused I am 65 yrs old everyone told me condo fees are horrible and can change anytime I owe a 79,000.00 Mortgage.PLEASE HELP
Mail this post
My husband and I have always had perfect credit until a business failure 2 years ago. We had to file for bankruptcy (it was discharged 1 year ago). Does anyone have names of reputable lenders willing to do a small loan — maybe ,500? We have been almost a month behind on our mortgage for a year now and I can't seem to catch up. Also, part of the $$ would be for a down payment on a car. We would try to refinance or get a home equity loan but due to the fact that it is a manufactured home (on 5 acres) lenders seem to turn up their noses on us — especially since our credit ratings have suffered due to the BK, etc. Any suggestions?? Thanks – linbad
Mail this post
I am looking at purchasing a modular home to put on my existing site. The home itself costs approximately 0,000. I am single and only have 2 credit cars which total approximately 00 combined. I did have some financial troubles but I am looking for a 100% finance loan or low cost closing mortgage. I am looking to build because I need to move my 85 year old grandma into my little home and this house with more rooms is necessary.
Mail this post
I have 4 children that would like to keep their own bedrooms after years of having to share. I own 1.5 acres of land and a double wide mobile home. I want out of my mobile home. I have been seriously looking at log cabins & modular homes. I would put them on a slab on my property. After weeks of internets searches, I found a modular home that I am very interested in–the Cinci Cape by Palm Harbor. Anyone have any input on modulars or Palm Harbor?
How well made are they?
Do they retain their value?
Does thair value increase like a traditional "stick" home?
How do they compair in cost? Are they really substantially cheaper?
What should I look for?
If I decide against the modular home, what input do you have on log cabins?
Are they a realistic option in southern LA?
Are they energy efficient?
Do they settle and become unlevel?
Ideas people?
I cant afford to build traditionally, but I do not want to live in a mobile home any longer.
There is a substantial difference between mobile homes and modular homes–the differance starts with the ground up… mobile homes are on metal frames and are raised–modular homes are built like "stick" homes and can go on foundations/slabs.
Also, I am not renting. I own the land outright and have a mortgage on my mobile home. And, surprisingly, the value of the two has almost doubled since I bought them 7 years ago.
Mail this post
