Tie-downs
Posted: Sat Mar 08, 2003 11:15 am
I need to tie - down my doublewide in order to qualify for a conventional loan. What does this consist of and is it worth it?
Tie downs are metal straps run through anchors sunk in the ground, and around the I beams on your home. Any local retailer can give you the name of a set up crew to add the tie downs.
If this is really all you need to do to qualify for conventional financing, then it is probably worth it. Conventional financing has much lower interest rates availible. However, in my experience, most banks want the house set on private property (not in a park) and on a permanent foundation.
Tracy