Purchasing with VA no down payment

[Pooh]

We are actively pursuing the purchase of a new manufactured home (Clayton) but can't get clear financing information. We found lots available on a +55 community in Calabash, NC. The lots are in the community with public water and sewer. The purchase price is 25K. We want to be able to purchase the new home with the lot with a Va loan. How can this be combined? Do we have to own in the full the lot first or arrange financing on the lot then try to purchase the manufactured home and combine the two (including the unpaid balance on the lot) into one VA loan? Perhaps you know of an easier way to do this? Thanks

[rmurray]

I should hope the dealer selling the Clayton is well versed in your mortgage options. A quality sales consultant should be able to help you move the the complex world of mortgage finance. They should understand the process well enough to fully explain every step of the way for you..If you sales consultant cannot fully explain your options..find another with the same product..

What you are trying to do should be possible..

[David Oxhandler]

At ManufacturedHomeLender.com they match manufactured housing lenders and borrowers
and offer a convenient way to shop for a MH loan in a secure, pressure-free environment. You don't have to leave home, spend hours on the phone or jump through hoops to get the best rates, because they do all the legwork for you.
AND you'll save time and money. You will discover which participating lenders offer the best programs and rates to meet your needs. Starting out with the right loan can add up to substantial savings over the years.
The best part.... the service is always FREE for anyone looking for a MH loan

[gidget88038]

I've tried the Manufactured Home Lender.com website twice and never did get a reply. I wonder why.

[David Oxhandler]

It is possible that there are no lenders that have programs to fit your situation at this time. Dont feel like your alone. This is the biggest problem facing our country at this time. The bankers have accepted the taxpayers bail out but are not using the funds as was expected, to write mortgages and help us off the economic bottom. When Mr. Bush saved the bankers he should have offered some conditions along with the money.

Are you purchasing your home from a licensed dealer or a private party?

[gidget88038]

It was a private party. However, I would be interested in getting a new home through a dealer, but financing seems tight there too. One bank said they require 30% down.

It seems impossible at this point to buy a manufactured home. There are so many for sale in this area because a mine closed down and all the employees moved away. Now they have a Huge number of manufactured homes for sale. But nowhere to get financing. My husband is a disabled veteran and we thought it would be easy to use VA but it's not!

Oh, well, we'll probably find a site built...even though there are not so many in our price range. I feel sad for all those MF home owners who can't sell.

Glenda