Buying older mobile home

[Patrick Monegan]

I have made an offer on a beautiful home in a community where I'd like to live.It is a 1975 but has extensive renovations, permanent foundation, Florida room. My realtor tells me not to do it because manufactured homes start falling apart after thirty years no matter how well cared for. She says, for example, I would have to replace the floors within five years (they seem fine to me and I'm willing to pay for an inspection).

It's a community where you but the land and the purchase price is about100,000. I want to do it but don't want to do something stupid. Bottom line. Is my realtor correct that it will collapse around me due to its age?

[Jennifer]

Hi Patrick;

I spoke with you earlier today. Please let me know if your current lender will lend on a pre-HUD home. I will look into any lenders that allow homes built prior to 1976 but chances are slim. You can reach me at 509-276-9015.

[Patrick Monegan]

Jennifer,
Thanks for the great info when I called. You are right. My lender said no and I'm looking for something newer.

[Jennifer]

Patrick, please call me at 509-276-9015 to get preapproved. We can use your VA guarantee loan which means 100% financing at prime rates!! Look forward to hearing from you.

[Tom]

Hi I had a recent bk 7 discharged in April. I am trying to rebuild my credit so I can get a mobile home with my wife. We wont have much down but anyone know if there is a chance we could get a homeloan with a recent bk? We make about $40000 between us with 2 car payments. Jobs are steady. We are in Sacramento, CA where the housing prices for homes is $300,000 for a 3 x 2 home. Ideas anyone? Maybe someone would carry a contract with a down? Thanks!

[Jennifer]

Tom, with a recent BK you would need to go with a lease option on a manufactured home. Once you get to your one year anniversary you may be able to go with a FHA manual underwrite as long as you have re-established credit. DO NOT be late with any new debt you have. Good Luck