Property Q&A in Greentown>Question Details

Rozana, Home Buyer in 11235

hi! if this house is listed as short sale,how much is down payment must be and can i get a mortgage on it. or it must be payed in full right away?

Asked by Rozana, 11235 Wed May 2, 2012

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This question is about this property: http://www.trulia.com/property/3009422847-104-Lookout-Cir-Gr…

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However, this is a mobile home....therefore, financing may be difficult to obtain. There are some lenders who will lend on mobile homes. Many will not.
0 votes Thank Flag Link Wed May 2, 2012
Your downpayment will be the same as with any purchase. Usually a 1% earnest deposit is given with the initial offer, followed up later with a 2nd deposit. How much money you put down can depend on the mortgage. You can have a mortgage but you should submit your pre-approval with the offer. Be prepared to wait a while for a bank to get back to you on a short sale offer. Some banks will answer fairly quickly; others may take weeks.
0 votes Thank Flag Link Wed May 2, 2012
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