Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Golden Valley : Real Estate Advice

  • All37
  • Local Info1
  • Home Buying12
  • Home Selling0
  • Market Conditions7

Activity 3
Wed Oct 23, 2013
Amy Casanova answered:
There are many lenders that have programs for manufactured loans. Including Wells Fargo that will even finance singlewides with VA or FHA. I deal with these lenders on a regular basis.

For more details I would I would be happy to assist you, I'm always available.

Amy Casanova
Silver Sage Properties
Golden Valley, AZ
... more
0 votes 3 answers Share Flag
Sat Aug 18, 2012
Dan Tabit answered:
Manufactured or Mobile homes do not qualify for conventional financing. There are fewer lenders and the terms are a bit more restrictive. Some issues will vary depending on if the house is in a park where you rent the space or if it's placed on land and is a package deal.
Talk to some local mortgage brokers to see what they have to offer. US Bank was still open to mobile homes the last time I checked.
One last thought, the reason the terms are more restrictive, higher down payment, shorter terms, higher rates, are because historically manufactured/mobile homes do not hold their value as well as homes built on the lot, also called "Stick Built" homes. For the lender, their investment is riskier and so they offset the risk with greater security for them.
Before you decide, consider a conventional home, condo or townhouse, you may have more options and find out they are more affordable than they appear when the financing options are considered.
... more
0 votes 1 answer Share Flag
Wed Mar 16, 2011
Spirit Messingham answered:
Honestly, you need to be speaking with a lender as they are the ones loaning moeny. The agents are right, much harder to buy land or build a new build for many reasons. Simply put, the lenders don't want to lose more money on a new build when there is so much inventory available at the current pricing. I strongly urge you to speak with a lender first before you buy any land. I had a client who had the same thoughts, bought the land and then after ward was upset when he couldnt get a loan to build on it. I honestly don't like being "right" in those situations when it means my clients lose money.

Most conveintional loans will require 20% on land, but my point is you need to be speaking with a lender about that, not agents. Best of luck.
... more
0 votes 2 answers Share Flag
Search Advice
Financing in Golden Valley Zip Codes