We have not so perfect credit and we're trying to own our own home. We rent know, and I know that what we pay in rent we can afford to pay toward owning our own home. We have two small children, and our living situation now is not emough to accomodate everyone here. Please!!! Are there any financing or privately owned financing companies that can assist us in finding a manufactured home?
2006-11-08 05:44:58 · 7 answers · asked by michellekinnar 1 in Business & Finance ➔ Renting & Real Estate
Go to a buyer agent in your town and ask for the name of the Rural Development person in your area and contact them. They can do miracles.
2006-11-08 08:44:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
2
2016-09-10 02:19:01 · answer #2 · answered by Kristi 3 · 0⤊ 0⤋
As a mortgage broker in FL it's my job to find the best mortgage loan for my clients specific financial situation. A mortgage broker has access to many, many lending institutions and the loan programs they offer. I would suggest that you find a mortgage brokerage business in your area (as well as a real estate agent) and have them determine how much you can afford (credit review, debt vs. income) so you know how much home you can purchase. As far as finding a manufactured home...I'd avoid this type of housing as it only depreciates in value (looses value) and you'll never build up equity which you may need in the future. If you have any other questions that I might be able to answer, feel free to ask! Good luck!
PS: I suggest you NOT sign anything, other than an authorization to have your credit pulled. Also, it's my personal opinion (and the way I do business) that you should NOT pay any up-front fees (credit reviews, application fees, etc...) except for an appraisal. Good luck!
2006-11-08 06:48:02 · answer #3 · answered by Beth 1 · 0⤊ 0⤋
Try saving so that you will have a good down payment and bank/credit unions/realtors are more apt to help you. Be careful of manufactured homes, because the lot rent can go up any amount from year to year. That can be more expensive than you anticipate.
2006-11-08 05:50:32 · answer #4 · answered by kayjay 4 · 0⤊ 0⤋
Wait about 6 more months, save all you can and pay off as much debt as you can. The housing market is tanking right now, you can save thousands if you wait a bit more. Also, try getting pre-approved with a USDA low income loan and then go to a foreclosure auction.
2006-11-08 05:53:02 · answer #5 · answered by Have gun, will travel. 4 · 0⤊ 0⤋
It would simplify things some what if you would just go ahead and get married. If you're buying a house together you're already making a pretty big commitment.
2006-11-08 05:53:15 · answer #6 · answered by Roadkill 6 · 0⤊ 0⤋
This is an easy fix. You should check my blog so you can set your credit profile up properly and be in a strong position to qualify.
2006-11-08 05:49:58 · answer #7 · answered by Anonymous · 0⤊ 1⤋