US BANK

["Ann Marie"]

Murray, I would like to direct this to you, since you suggested that I contact US Bank for a good interest rate on a home only loan. (If anyone else has a helpful comment, please reply). I checked with one branch here in El Cajon, CA and they will only loan on the appraisal of the home I'm putting on the space in the park. They don't take into consideration that I had to purchase the old home on the space. That amount is added onto the cost of my new home that I will be building. This, of course, brings the loan amount a lot higher than the actual cost of the new home. I called a phone number that was in "Modern Home Magazine" and they said they only service the northern part of the State of California, but probably will service the southern area by the end of the year. Mr. B. Couglin answered my previous posting but never got back to me. Still would like to hear from him. Anyway, Origin Financial will give me the amount I want at 8.25%. Maybe if I can find a US Bank later down the road, I can always refinance. Thanks Murray and to all.

[Joshua]

It was my understanding that US Bank will not do them in a park (land-lease) or is this a condo type park.

["Ann Marie"]

Joshua, yes, US Bank (at least the one I spoke to here) will do "home only" loans on only brand new homes in a park (land/lease). This particular park is not a Condo type.

[rmurray]

Sorry for the bad lead....Since U.S BANK is based in CA I would have assumed the first market they would shore up would be the hot CA market...Oh well you know what they say about ASSUME...

Origin is a fine lender...One of the nations largest to day...GO FOR IT....GOOD LUCK....