Home Buying in Los Lunas>Question Details

John Sanders, Home Buyer in Los Lunas, NM

Hi i'm trying to purchase a manufactured home, but the home failed a flood zone inspection. Are there any other finance options?

Asked by John Sanders, Los Lunas, NM Tue Oct 30, 2012

prequal with NmFha. can provide 15 to 20 percent down.

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Leslie Rojas’ answer
Hi John,
If you are able to put 20% down payment then you can get a conventional loan for the mobile home and the flood elevation will not be an issue. It is only an issue if you are trying to get FHA financing.
Steve Lowes at Bank of the West in Los Lunas can help you with that kind of loan.
I can also help you fins a mobile home that is not in a flood zone if you want to use FHA financing.
Give me a call and let me know what exactly you are looking for.
Best Regards,

Leslie Rojas
505-818-8871
0 votes Thank Flag Link Tue Oct 30, 2012
What has your lender or agent said regarding the failed flood zone inspection?

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
Web Reference: http://www.Syan.com
0 votes Thank Flag Link Tue Oct 30, 2012
My lender told me the home wouldn't qualify for Fha or Nmfha because of Gov't regulations, and usda is out because it's manufactured.
Flag Tue Oct 30, 2012
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