Financing a Mobile Home in New Jersey
Posted: Tue May 17, 2005 7:51 pm
I am a mortgage loan officer here in New Jersey and I have a customer who wants to purchase a mobile home. I have no outlet for this deal. Her middle score is under 600, and she may only be able to come up with $6000 down payment on what may turn out to be a $90K loan. So far I was able to track down one bank (Bank of Elmer) that does mobile home loans, but needs a credit score of 680 and 20% down. I have a query in to another company, but am running out of ideas of where to turn next.
I will gladly hand this deal over to someone who can actually put the loan together without ripping her off, if I could find such a person or company.
Anybody got any ideas? New Jersey seems to be nearly devoid of mobile home financing, and I've yet to even get a hint of FHA available in this state for mobile homes.
Will appreciate any and all information. Thanks folks!
I will gladly hand this deal over to someone who can actually put the loan together without ripping her off, if I could find such a person or company.
Anybody got any ideas? New Jersey seems to be nearly devoid of mobile home financing, and I've yet to even get a hint of FHA available in this state for mobile homes.
Will appreciate any and all information. Thanks folks!