why why why?

[Erin]

Me and my husband found a home that we like..plus 10 acres of land..our banker told us to get it appraised before she could do anything..so, we got it appraised..within 5 mins she said..well.i can only go 15 years on a mobile home...ur payments are gonna be way out of your price range..WHY didnt she tell us this to begin with? Also, why can a bank only go 15 years on a mobile home? She said thats as long as they'll let her finance it for.

[rmurray]

You are right...Call her manager and tell him how his employee caused you to waste your money....Banks have the right to set their own policy....There are still many out there offering 30 year term.....Many loans are closing for 20 years right now....15 year in only about $100 peer month higher than the same loan for 30 years and you save tens of thousands in interest ....

[David Oxhandler]

If your credit is good there is no reason that you cant get 30 year financing on a new home and land package. Many banks just dont understand manufactured housing and their policies are based on thinking that was valid in the 1950s. Kiss your banker good-bye and let lenders who understand what you need compete for your business. Try the MH LOANFINDER SERVICE, They are a mortgage information referral service that accepts requests regardless of where you live or even credit history. You may request information for any type of manufactured home finance. Their goal is to provide you with information to make an informed decision for your financial future. you'll save time and money. You will discover which participating lenders offer the best programs to meet your needs. There is No Obligation. No Initial Credit Check and the Expected time to complete is only 4 minutes. You have nothing to loose and if you can find the MH loan your looking for any place this is where you will find it. Jump to the LOANFINDER and fill out their short form NOW!

[Mac]

I got a 30-year mortgage on land with a 30-year-old home on it, from Wells Fargo. That sounds as though it's just that bank's policy, and it also sounds as though the employee is confused about the land part, believing it's a home-only loan. I would ask the bank to reimburse my appraisal, because they should have sat with you to run the numbers well before any appraisal - to see if / what you qualify for.

[brad]

I am a broker, I have a deal that I was told up front is a single family home, turns out it is in a fact a doublewide, looks very much like a ranch, cannot for the life of me find a lender for this couple, I dont want to leave these hanging and would happilly have appraisal released to anyone. Can anyone refer me someone for them to call? PA property----thank you