manufactured home loans

[LARRY]

do you know of any financing of a manufactured home with land package deals with no money down ?

[Jennifer Pierce]

Hello...

You can contact Terri Hays at: [email protected]. She is our credit manager here at Manufactured Loan Seekers, LLC. She handles the Land Home Packages. You may want to ask her if we do in fact offer a zero down program. She would be the perfect person to ask!

Hope we can help!
Jennifer Pierce

[rmurray]

Any FHA allows your downpayment to be paid by a charitable non-profit corporation...If the seller will make a contribution.....Look for FHA lenders and ask the originator about the details...
Most dealers will also be aware of this finance plan..Good Luck

[Mrs X]

Here's a dumb question - can we ask for down payment assistance from these charitable institutions IN ADDITION TO whatever down payment we're going to make or is this only applied to people who have no down payment capability at all?

[rmurray]

Remember....the downpayment requirement for the FHA is only 3%....all contributions are made ONLY when the seller (dealer) makes a equal plus 1% contribution to the charity...Where do you think the money comes from...higher price is the answer...

The "No downprogram" means the customer pays 4% more for the house and end up financing the down and fee for 30 years..

[Dan F]

Murray,
Would using the charitable organization down payment route be similar in the end to getting a 103% or 104% loan? Just curious.

[michael sotire]

are you financing the home as personal or real property ?

[rmurray]

No...the appraisal must support the additional price...