It really depends on the year the home was built in. If it's a pre HUD home, built before June 15, 1976, she may have a difficult time with 20% DP. Additionally, there are a lot of health concerns about pre HUD homes that she needs to know about.
Additionally, if it's a lease/rent park she needs to investigate the rental/least terms and make sure she's not going to get jacked on her rent. A lot of folks get build alive in MH parks where the landord keeps jacking up the rent. It can actually drive a person right out of a park.... more
Gevon Polgar | Open Access | (408) 203-3596 717 Bramblewood Ave, Lathrop, CA Turn-Key and Like NEW ! 4BR/2+1BA Single Family House offered at $239,900 Year Built 2006 Sq Footage 2,879 Bedrooms
First of all...Congrats Jamie! you are going to do very well with your investment over the next 5 years! Your question leads me to believe you are very smart with your money.....Can you spread some of your smarts to some more buyers? ; )
Your funding will be dependant upon when the lender actually funds. I would be surprised to see them fund on Monday...Sure wish I could depend on quick funding with my clients. However, it happens often just not often enough for me.
Sorry, I am blabbing..again. Your Loan Broker will have the answer for you. Period. No one else could answer this question with a definitive. I believe customarily, the clock starts at signing. When you sign docs clearly identify the terms and dates with your broker. You won't be able to delay lender review which could clear up some ambuguity and provide an extra 24 hours. The docs are time sensitive and with the Holiday encroaching you will have to proceed per your broker's recommendation. Again, Congratulations!!!