Trying to get financing

[Elizabeth]

Can someone tell me how to buy a used home and move it to land and get financing before you move the home? I live in Texas and it's been a nightmare trying to get this done. No one wants to finance unless it's already set up.

[Charlotte]

Through my research of the phonebook, web, and local banks you have a good chance of getting financing since you are moving it to your own land. Problem is its a used home and many companies will not do it. Western Finance might be able to help or Tammac -Tammac usually works with a contract through local sellers though. Single wides have less chance of finance. Look in your phonebook for mortgage brokers. They usually deal with land/mobile home transactions. Since it is not rented land - I am assuming - it is now considered a real estate transaction - not a vehicle sale. I don't know much about the moving part but I would call your local mobile home sellers. They will know how and will let you know if they can move it and what fee. Good luck.

[rmurray]

Read a couple of your posts today..Charlotte it is great advice and will be a great help to many here..stop back more often...

[Greg McClain]

Drop us an email with more details as we do mobile homes w/land and in fact wo/land and also still in a park. It is not as difficult as you may believe and we have working relations with a dozen lenders which deal in mortgages on mobile homes.

[David Oxhandler]

Finding lenders who will be happy to make loans on pre-owned homes is really no problem ! Use the MH LOAN FINDER. Answer a few basic questions and click the "Submit" button. You'll be matched with lenders and brokers who meet your exact financing needs. All Loan Types Available: Purchase, Refinance, Home Equity, Home Improvement, Debt Consolidation, Cash-out, FHA/VA, and Even Land/Home Construction Loans. What's more, the MH Loan Finder Service is easy to use, and it costs nothing to participate. Just take a few minutes now to complete the short questionnaire on this page. Then, based on what you tell us, our lenders can find a loan that matches your needs. Within just 24 hours, your request for loan information can be answered by several participating manufactured housing finance companies.

[Darl Wilson Reno, NV]

Actually this is very simple and you shouldn't have to get interim financing. I am President of Nevada Mobile Home Financing and Nevada Home Financing and we do these loans on virtually a daily basis here in Nevada. 1st get bids from all the players, (movers, foundation construction, site preparation, etc.) with the understanding that they will get paid when the loan funds. The same goes for the land if you owe a balance. Then, as one of the folks responding to your problem suggests, find a mortgage broker or banker that specializes in manufactured housing. They will get you credit qualified and then order an appraisal. The appraisal will be a "subject to" meaning that when the project is complete the value will be the amount for which it was appraised. If using a Fannie Mae or Freddie Mac loan (FHA will not do this loan because the home is changing from it's original location) they will require a form 442 and pictures that shows the home is in place and is ready for occupancy. This is supplied by the original appraiser. Depending on the local requirements you may also need a certificate of occupancy or an inspector's sign-off. These items are submitted by the broker/banker to the underwriter and the loan is funded and all parties are paid.
If you cannot get the contractors to wait for the funding you should be able to get a local, short-term construction loan. If not Transland Mortgage from Maitland,FL and others will make a construction loan .If your lender has any questions they call me, toll-free, at 866-286-4026 or email at [email protected]

Good Luck!
Darl

[ANGELIA]

HELLO THERE I LIVE IN SC AND MY CREDIT ISN'T GREAT DUE TO MY HOME BURING DOWN AND CONSECO FILING FOR BANKRUPTCY AND NOT PAYING MY MH INSURANCE. CAN I GET HELP WITH FINANCING A HOME IF I AM UNDER A CONTRACT OF SALE AND HAVING CREDIT PROBLEMS BUT EVEN THOUGHI HAVE SOME PROBLEMS I HAVE TRIED TO KEEP WHAT CRDIT I DO HAVE GOOD . CAN YOU HELP ME

[tony ziegwied]

Please be aware FHA/VA will not finance any manufactured homes that are not a one time move. ie. from factory/dealer inventory to the sight.

[Charlotte]

rmurray - Thank you for the wonderful compliment. I am new to all this. I have been researching my butt off and have found many answers on my own. I wish there was more information out there for those of us who need help. Maybe I should make my own website with links and tips. I check this site nearly 3-4 times a week just to see what's new and if there is any information that will help me. Hoping to help save some valuable time and effort all those in various situations are going through. Happy Holidays to you.

[rmurray]

You would be formidable competition to this web site...Building and maintaining a valuable web site is as lot of work but can be fun......Write the web master here with some of your ideas...I am sure he would value your input.....There are ways he can help information on this site to be easier for you to follow....Congratulations on your credit clean up...I checked the BK web site you listed and will read his newsletters...