financing
Posted: Wed Sep 17, 2003 3:32 pm
I have heard that financing requirements to purchase a manufactured home on a permanent foundation have changed - they now require 20% down. Is this true?
Thank you.
Thank you.
NO....5% down is still the norm for conventional business...to get full 30 year conventional some lenders would require 10% down...but not all...
Then there is FHA mortgages that require 3% down with full 30 year term...It is possible for a nonprofit charity to pay this for you...so effectively you can get a home with nothing down..
Then for those that have served our country,,there is VA financing that does not require any downpayment...
So...you were misinformed...go out and get your home..