Home Buying in 93535>Question Details

Dnamarquez, Other/Just Looking in 93535

Im trying to buy a mobile home with a down payment 10,000 but my credit is poor. Am i still able to buy a mobile home.?

Asked by Dnamarquez, 93535 Fri Feb 17, 2012

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6
THERE are instances where the seller would be willing to carry your note .The other obstacle to credit issues with regard to the mobile home is that you must also obtain park approval and your credit may have some impact on the park's decision.
I have access to some sellers who may carry paper.If you want more info feel free to contact me


Linda Butterfield
Centennial Realty

Linda@LindaButterfield,com
661-874-2772
0 votes Thank Flag Link Mon Sep 2, 2013
i dont have money to put dw right now cause im the only one thats paying bills i would to get a 2 bedroom and 2 bath moblie home
0 votes Thank Flag Link Mon Apr 22, 2013
im from hollister nc and i rent
Flag Mon Apr 22, 2013
Depends on the price of the mobile home.
0 votes Thank Flag Link Sat Apr 14, 2012
As a real estate broker, I love to sell homes. Sell sell sell, buy buy buy.

But I have a concern for people with bad credit - why do you have bad credit? Have you had problems paying your bills on time, or do you owe 'way more money than you can pay back in a reasonable time? And if so, then why would you take on a thirty-year commitment to pay back more money?

I like my clients to rehab their credit before they buy a home, the same way that you'd rehab an ankle injury before running in a fund-raiser. As you wouldn't put any weight on the ankle right away, don't add any debt for a while. Get into the habit of paying down the debt, getting current on some of the delinquencies, getting that credit score up into the sixes and when you've accomplished that, ask - why not go for the sevens?

That's when you should buy a home. Not when your credit is dinged and you've got a mountain of debt already.

That's my thought, I wish you well.
0 votes Thank Flag Link Fri Feb 17, 2012
If your credit score is below 640 you will have a hard time getting a loan. Most lenders now require a score of at least 700.

You should go to HUD.GOV

They have resources for buyers, and may be able to get you in contact with credit consultants who can advise you on how to increase your credit scores.

Best of luck to you.

Kawain Payne, Realtor
714-293-1151
0 votes Thank Flag Link Fri Feb 17, 2012
Obtaining financing for a mobile home can be difficult with good credit. There are not many lenders that do these loans. The age of the home is also a determining factor in getting financing. The fact that your credit is poor will only make it that much harder.
Good luck,
0 votes Thank Flag Link Fri Feb 17, 2012
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