Financing

[Melissa]

I posted awhile back about selling my 1994 Fleetwood Singlewide. My question then was about lenders and pricing etc. Well I have since then put my home on the market. Today a lady came to look at it and loved it, esp. b/c of the many extras we have added to the home. She is going now to try to get a loan through the local banks. I feel she will have a problem though as most banks in our area have really cracked down on manufactured home loans without land. On top of that she said she hasn't always had the best credit due to a messy divorce a couple of years ago. From what I understand her credit has been okay recently. Does anyone know of a manufactured home lender out there that can work with past credit problems, so that I can refer her to them. I know she at least has 10% down.

[rmurray]

It is not common for home only manufactured home lenders to "work" with bad credit...

For your records...one of the easiest to get along with...not necessary easy on bad credit..is

21st Mortgage Corp.
607 Market St.
Knoxville,TN 37902
800-955-0021
865-292-2100
Bart Mize
[email protected]

Your customers can apply on line at... https://www.21stmortgage.com/web/century.nsf

Do not get discouraged...this is your first prospect...It is always easy to sell those that cannot buy...Remember even most used home dealer only get about 30% of their credit apps approved...Keep the ad ready..do not take your home off the market for those with bad credit..

[Melissa]

Thank you Mr. Murray. I gave her the number to 21st mortgage yesterday because I had talked to them previously. I haven't heard back from her yet, but she told me she would let me know one way or the other in a few days, till then our house is still on the market and we are still setting up times for people to come see it. We told her that we won't take the house off the market until she has funds in order and has signed a bill of sale.

What about Ameriquest? I heard that they offer loans for manufactured homes and work with past credit problems. Have you heard anything about them?

[rmurray]

I am not personally familier with this lender....but there are many of them out there...but few actually take poor credit..

Look through the lender section of this site for others...Good Luck