loans

[Jennifer Green]

Hello
here is my situation my grandmother is needing to live with us we will need more space so she is going to buy a mobile home and put it on our land her credit is great and has monthly income she was turned down and i need help in what to do time is a big factor she needs a home!!!!!!! concerned grandchild

[Jennifer/Carteret Mortgage]

Jennifer, why was her credit turned down? Is her debt to income ratios too high for the home she wants to buy? She may be able to get a personal loan to pay for the home. Please let me know via e mail or you can phone me at 509-276-9015

[Jennifer Green]

Thanks for emailing me BAck!
Her credit is great -her monthly income is 1600.00 -1 payment of 260.00 a month and the balance is 4000.- she was trying to finance around 50000. she has 5000. to put down - when she got turned down i asked she paid the 4000. debt off and only put 1500. down would it help no one got backwith her or me i am very confused her score is around 760 and has paid off many debts in her life
sincerely
jennifer green

[Jennifer Green]

if you can call me at my work i would greatly appreciate it 304-732-7000 jennifer green

[rmurray]

Is it possible for you to give her a small part of your land....This would allow her to take advantage of the lower interest rates...about 6%...and with this high of score she should be able to qualify easily...You can stay on the deed..and not sign on the loan..this way you will be guaranteed that the home and land will be yours if some thing happens to her...

This way her payment would be about $250/mo....add her debt to the loan and she would have 1 payment at about $310..