I want to buy a mobile home park I have cash for the 20% down. It is a rental property and I will be living on the property' the property has

Asked by Renee, Boulder, MT Fri Feb 14, 2014

been appraised at 985,000.00. I would need a loan for 300,000.00, how do I qualify for loan to buy the property?

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a.steele007’s answer
a.steele007, , Charlotte, NC
Sun Feb 16, 2014
Re: I want to buy a mobile home park I have cash ...
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Cindy Humphr…, Agent, Helena, MT
Sun Apr 13, 2014
Hi Renee, The transaction you are preparing for would have a lot of possible snags both on the lending side and purchasing decisions to be made. Shopping the loan will serve you best when determining your interest rate and if there will be any points added to the loan. Your credit score plays a large role here. Personal visits to lenders are better than a phone call. I have a list of documents you should bring with you on the first visit to the lender that I'm happy to send over to you upon request. It's much easier to have your needed info organized from day one than to go back and forth gathering items that you must have to qualify. Are you working with a Realtor currently? Specifically a Buyer Agent? It is in your best interest to work with an experienced agent. It will save you time and reduce the surprises that can crop up along the way. Best regards, Cindy
0 votes
Christopher…, Agent, New Cumberland, PA
Fri Feb 14, 2014
Hi Renee talk with a local lender in your area. They will be able to give you the best advice and programs available.
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