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31602 : Real Estate Advice

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  • Local Info1
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 10
Thu Jun 23, 2016
Linda asked:
Sat Jun 18, 2016
Hobbitt67 asked:
The entire mobilehome has been rehabed, new roof, A/C, furnace, as well as
the inside all new. Is there a lender out there that would loan on this property.
0 votes 0 Answers Share Flag
Mon May 23, 2016
jr.rollins asked:
Fri May 13, 2016
Campi asked:
I have ability to us VA loan. Have approx. $145,000 income. 650 FICO score. I was forced to assume my ex wife's debt in divorce in January of this year. Have receipts showing I paid $1200…
0 votes 0 Answers Share Flag
Wed Mar 25, 2015
John Arendsen answered:
Fewer lenders will lend on "MOBILE HOMES" today since they were built before June 15, 1976. In 1980 the term "MOBILE" was discontinued and the term "MANUFACTURED" or "HUD MANUFACTURED" was replaced and that remains in effect to this day.

Be sure to work with an experience RE and/or MH Professional who knows the difference as they are much more qualified to help you obtain financing. I would strongly recommend that you go with informative, knowledgeable and experienced RE & MH Professionals like mwanderson68 who has provided some very astute comments on this thread.
... more
0 votes 12 answers Share Flag
Sat Nov 2, 2013
Dana Lindberg answered:
It is a good score. You should not have problems getting a mortgage. Consult with a local lender to determine your options.


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Dana Lindberg
CFS Mortgage
www.cfs203k.com
www.whywaitbuytoday.com ... more
0 votes 7 answers Share Flag
Thu Sep 19, 2013
mwanderson68 answered:
You start with the loan ! Like I tell my customers that just want to look. There are three parts to one of my land home packages. 1. the loan 2. the land then finally 3. the home and this is the order people should follow, but alot want to look at the home first. Thats just waisting time and/or setting yourself up for a possible let down. The loan is first because without it, there is no sence talking about the other two. The land is second because Location, location, location.....(apprasial comparables, school districts, convenience to work...etc.) Then the funnest and easiest part picking the home itself. In new construction doing it this way helps keep the payment where you want it and prevents you from financing too must. Find out the payment on a certain loan amount then subtract the land and land improvements and whats left over is what you can spend on the home and with modular ,you can get alot for $55 per square foot. I have yet had an unsatisfied and unhappy customer doing it this way because the payment stays the same from the begining. mwanderson68@yahoo.com or 478-251-1732 Mike Anderson ... more
0 votes 5 answers Share Flag
Thu Sep 19, 2013
mwanderson68 answered:
A USDA Loan is the best program going on right now. Unlike FHA it doesn't have a PMI Payment and offers a very low interest rate. If you have a credit score between 620-639 and can provide rental history for the last twelve months, by means of cancelled checks or you rented from a rental management company, apartment, or realestate company, you do not need any money down. Also, with USDA anything over 640 does not need Down payment or proof of rental history. The only catch with this loan is a married couple can not have a combined income of over 90,000 per year. There is a small monthly charge, but this is not even close to the rediculaous increase in a FHA loan. It's almost to the point of " why do you even have the program?" Between the PMI (FHA) and the escows your up to over 300 per month and thats before adding what you borrowed and interest. Being in the Modular housing business, I'm seeing Lenders getting back in the game and starting to even offer new construction loans with a one time up front close. As far as down payments and the answer to the question...Yes there's NO down....5%....10%.and...20% down programs out there. Depending on the type loan your getting and the risk factor to the bank will be the determining factor of what's required down. I Think my industry offers the great product while keeping people under the comfortibilty payment umbrella. 478-251-1732 Mike ... more
0 votes 8 answers Share Flag
Mon Jun 3, 2013
Marlene Bienes-Realtor answered:
Clarence good words of advise below no way around it consult an ATTORNEY for the best advise. We as real estate agents can not practice law without a license and no matter how much common sense we use does not replace legal advice. ... more
1 vote 6 answers Share Flag
Tue Aug 25, 2009
Bill Eckler answered:
Additional information would be helpful since a specific zip code may include a variety of different types neighborhoods.
0 votes 2 answers Share Flag
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