lost job & need to move, have ????'s

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cmcjmovein
Posts: 2
Joined: Sat Nov 15, 2008 4:43 pm

lost job & need to move, have ????'s

Post by cmcjmovein » Sat Nov 15, 2008 4:56 pm

I want to purchase my sisters mobile home; one catch 6 months ago I lost my job that I had for 31 years. I currently own a house; and have savings. I heard that you have to have 6 months of employment in order to qualify for a mortage, is that true?
Can I sell my home and put down at least $10K or $20 or more and get a mortgage??? I keep reading and get more confused. (I might even be able to purchase the mobile house completely with the profit from the sale of my current house, I'm not sure how much profit I will make on the sale of my house.) Any advice will be completely appreciated.

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: lost job & need to move, have ????'s

Post by David Oxhandler » Sat Nov 15, 2008 8:30 pm

The greater finance community is in chaos at this moment in history.But there are a lot of options with manufactured housing loans for qualified buyers..  The greater your down payment the easier it could be to overcome other credit challenges.  So if you can wait 'till you sell your place and have money in hand your chances will be greatly improved.  If you want to get opinions from multiple lenders to see just how much you would need down, submit the form for the Manufactured Home Loan Finder
David Oxhandler
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