Help me find a way to finance! Need Suggestions!

[Jake]

Hi all,

Here is the deal:

I am looking at a singlewide home with 2.3 acers of land (in Conroe Texas) It is a pretty sweet place and the owner is asking $55,000

I have 20% to put down ($11,000) but it is my understanding that financing a singlewide is very difficult. The Realtor suggested trying the local banks as opposed to big mortgage companies and mentioned something about financing the impoved land instead of the home. (Land + well, septic, cleared, power, etc..) Now my concern is that if I attempt to get a loan from the bank for the land that it may not appraise high enough to be $44,000. That is how much I would need to borrow assuming I was to purchase it at list price w/ no haggling. I have good credit and am open to any suggestions.

Thanks!
-Jake

[rmurray]

You have everything it takes to get a fair loan.Good credit and equity....Compare local banks offers to those with lenders listed on this site.....

There are many lenders who would love to have you as a customer..Check with dealers in your area for referral to local sources...

[Jake]

Thanks for the reply. I hope that is the case and people will be willing to work with me. I'm going back to see the property again with the realtor on saturday and hopfully will be able to figure something out.

[Amber]

Jake, I filled out the form here for Financing, and someone contacted me right away. That company, based in Dallas, was willing to work with me on financing a 1997 home on land with a 95% LTV. We changed our minds and are now looking to do a new land/home, but the person that responded was very helpful.

You might want to fill out the form. The person I was working with is Laura King

www.ulphomeloan.com
Laura King
Loan Officer
United Lending Partners
[email protected]
(800) 565-0257 Ext 303
(972) 447-9388 Fax

[Jake]

Thanks for the reply Amber. I did fill out the financing form on this site 2 days ago, but have not recieved any replies yet. My hope is that I can get the land appraised and it will have enough value improved to get the loan without much problem.