Property Q&A in 93033>Question Details

Carmen, Home Buyer in Ventura, IA

DO WE NEED TO GIVE A DOWN PAYMENT FOR THIS MOBILE HOME??

Asked by Carmen, Ventura, IA Tue Sep 30, 2008

--
This question is about this property: http://www.trulia.com/property/1064089916-1300-E-Pleasant-Va…

Help the community by answering this question:

Answers

3
There are only a few local lenders who give loans for mobile homes. Typically they ask for as much as 30% down.
0 votes Thank Flag Link Thu Oct 2, 2008
There are other considerations when purchasing a moblile home. The down payment required and the interest rate given are determined by 1) client credit score 2) the year the mobile home was built.
Check with a lender that specializes in Mobile Homes to know where you stand. Also, it most instances it is wise to apply for park approval before writing your offer and entering escrow. It may take 30 days or more to get approval and don't forget to check for pet restrictions! Laurie Allen
0 votes Thank Flag Link Thu Oct 2, 2008
Carmen,

To have a valid contract and escrow you have to have some money involved. Your down payment money needs to tied to a purchase agreement that protects that down payment money until you do your due diligence.

This is a Coldwell Banker listing. The listing agent has already agreed to split their commission with an agent member of the MLS that represents the Buyer. You can bring your own agent to the table to negotiate for you and protect your interests in the transaction.

This is an older unit, physical inspections and termite inspections are critical. If you have questions go to my profile and call or send an email.

Ted Mackel
Web Reference: http://www.homebuysblog.com
0 votes Thank Flag Link Tue Sep 30, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer