financing

[sandy]

we are in the process of buying a manufactured home. we own the land. the modular company told us the easiest way to get financing was through them. the interest rate is 8.5 and we are wondering if we can do better and how do we go about it? it is called a land to home package and it is in prescott, arizona area.
thanks,
sandy

[Drae]

if you are going to put the home on private land you may qualify for a standard real property loan (home loan). i say may because i do not know codes for AZ. Anyway check out Bankrate.com and mortages for AZ, start calling from low to high asking if they do MH loans. if they dont go to the next, if they do get a estimate. i would get at least 3 quotes.

At current rates you may qualify for a 5.75 - 6% loan if you are setting the MH on foundations and private property. if it is in a park, then 8.5% may be good. MH's in parks are typically considered personal property and carry higher rates.

[Dan F]

If this is the rate of your interest only construction loan than this is a decent rate.

[sandy]

home is not going in a park but on our private land. thanks for information. will check on rates and see what happens.

[rmurray]

This dealer is not doing you any favors...current mortgage rates are as low as 5.5%...this would be tens of thousands of dollars less than what he is offering...

[Jeffrey Campbell]

we are looking to buy a new mh to be put in a park we will own the home but only rent the land we have only found 2 mortgage companies that loan money in them situations can you send us names of mortgage co. that deal in new jersey in which this situation.
Thank you,
Jeffrey Campbell

[Jeffrey Campbell]

we are looking to buy a new mh to be put in a park we will own the home but only rent the land we have only found 2 mortgage companies that loan money in them situations can you send us names of mortgage co. that deal in new jersey in which this situation.
Thank you,
Jeffrey Campbell

[Jeffrey Campbell]

we are looking to buy a new mh to be put in a park we will own the home but only rent the land we have only found 2 mortgage companies that loan money in them situations can you send us names of mortgage co. that deal in new jersey in which this situation.
Thank you,
Jeffrey Campbell

[Jeffrey Campbell]

we are looking to buy a new mh to be put in a park we will own the home but only rent the land we have only found 2 mortgage companies that loan money in them situations can you send us names of mortgage co. that deal in new jersey in which this situation.
Thank you,
Jeffrey Campbell

[Jeffrey Campbell]

we are looking to buy a new mh to be put in a park we will own the home but only rent the land we have only found 2 mortgage companies that loan money in them situations can you send us names of mortgage co. that deal in new jersey in which this situation.
Thank you,
Jeffrey Campbell