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financing for dblwide on its own land (retired title)
Posted: Tue Jul 20, 2010 11:59 am
by teamsmith
I am a real estate agent and I have a client who is looking at a 1998 Dblwide home on 2 acres of its own land, in PA. The title has been retired. It is not on a foundation, it is simply strapped down. I am having trouble finding reasonable financing for the home. My clients have a 20% downpayment and have excellent credit. I filled out the financing search from this site but have not heard anything back yet, and I have little time to find due to the fact that we have a signed agreement of sale and need to get financing ball rolling. Any suggestions or help would be greatly appreciated.
Joel
Re: financing for dblwide on its own land (retired title)
Posted: Fri Jul 23, 2010 3:24 pm
by Celtlund
Check with a reputable manufactured home dealer or two in your area to find out what mortgage broker(s) they use. Contact the broker and set your clients up with an appointment. When I was buying our home I was having the same problem you are having. I found one broker who didn't know what he was doing. The dealership I was purchasing from recommended a broker and I was pre-approved for the loan within 24 hours. Good credit and 20% down go a long way.
Re: financing for dblwide on its own land (retired title)
Posted: Sun Aug 01, 2010 9:36 pm
by David Oxhandler
At ManufacturedHomeLender.com they match manufactured housing lenders and borrowers
and offer a convenient way to shop for a MH loan in a secure, pressure-free environment. You don't have to leave home, spend hours on the phone or jump through hoops to get the best rates, because they do all the legwork for you.
AND you'll save time and money. You will discover which participating lenders offer the best programs and rates to meet your needs. Starting out with the right loan can add up to substantial savings over the years.
The best part.... the service is always FREE for anyone looking for a MH loan