We have been approved for an FHA loan. We found a doublewide trailer on 4 acres that we like. Does anyone know if fha will approve the loan on a trailer-house? I know FHA has certain restrictions for buying. Dont wanna make an offer and get our hopes up, if the mortage company is going to deny the place. Like I said we Really like it alot....Its a 2005 Solitaire Double-wide. In a very nice neighborhood, and its in the country...
2007-03-04 07:01:45 · 3 answers · asked by SweetP 2 in Business & Finance ➔ Renting & Real Estate
Some banks won't take them, even if FHA would insure the deal.
But a doublewide, on a permanent foundation, built after 1978 or 1976? is generally acceptable to FHA.
Wells Fargo is pretty good on these.
2007-03-04 07:12:38 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
do not do something till you've the position inspected OR till the FHA appraiser grants the record of needed upkeep. it really is the glitch...in case you do not have the $ to do the upkeep to get the homestead as a lot as FHA criteria....then you definately lose the money you've spent on inspections & appraiser expenses. What the commercial employer fails to inform people is this: ~there's a large difference between what the FHA appraisal is all about (its a seen INSPECTION), & the extremely homestead inspection (a fingers-ON attempting out of all structures contained in the homestead). ~Then there is the better fee & whammy of the TERMITE INSPECTION....that could placed the skids on an FHA loan OR upload thousands to the bypass-in fee of the belongings. IN different words>>>>in case you don't understand a thanks to change into conscious of a foul homestead OVER a fantastic homestead (structurally & otherwise),...you'll finally end up depressed, offended & broke. artwork with a respected & experienced agent/buddy earlier you commence paying all those expenses for the different celebration to save & leave you penniless & without a house. FHA is demanding & precise of their guidelines & they gained't WAIVER. this is their funds & they call the images. *Edit: We were given a remaining date of Dec 15 & we are nevertheless searching ahead to the merely accurate date. this finished element turned right into a crap shoot & all of us understand this is going to finally end up to be solid...yet, this isn't any longer something i'd ever care to repeat interior a similar way on a 2d time round with FHA.
2016-11-27 21:09:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yea they will, but everything better be working perfectly, if it is not 100% functional then FHA will deny it.
2007-03-04 07:13:22 · answer #3 · answered by Mark P. 5 · 0⤊ 0⤋