Lending Diffaculty

[William Duggin]

Hi,

I have been trying since February of 2004 to purchase a manufactured home in Northern California. My credit is not greate due to a series of 17 back and neck surgeries in the last seven years my, my score is any where from 5-15 points short from needing to be approved. Using my three credit scores I qualify for the loan but they take the middle score so I got the middle score up it went to first place making my first score drop to middle position causing points to drop by pulling inquires by the lender to look at the progress right back into the same catch! I cant win for losing HELP.

However I am approved to purchase a new home or build one myself even if it a pre-fab home, I am at my wits end trying to make this work. I have found a manufactuerd home thay my wife and I love but could not build this for half of the models cost to say the least of problems in doing it my self with my back in the condition it is in. ( I need a morophine pump running 24/7 now just to get along.

I can but property with a house on it but not with a manufactured house on it even if i had 50% equity this makes no sence, what is going on here? I am not the only one with this problen and a lot of good people are walking away from there dream because of this can you tell me why this is, I have been told it is because of some new loans in the state of California not wanting any more moduler home repos.

Thanks, Bill
916-792-3080

[rmurray]

Very few lenders are totally score driven...FHA does not even look at the score...only the pay record in the last 12 months...Maybe you might want to try some other loan originators..or another dealer....

That said...finance possibilities for those with challenged credit is more available in the stick built home area......but all lenders treat factory built modular homes as site built homes...all the lending possibilities for the most challenged credit would be available to you...Often manufactured home builders of quality homes offer their designs in a off frame modular version...You dealer should be looking at this option...

You still can get your dream home...Good luck

[Gil Davis]

We have lenders that can help you with a home. I'm located in Northern California and we are both licensed Realtors and licensed to sell manufactured homes.

Gil Davis
[email protected]

[David Oxhandler]

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