DBackfan (I think)

[lisarae]

I believe it was you who tried to help me before. Are you the lady that does teh work with mobile homes? I was needing to ask a few questions. Weve been looking for a few weeks now and are really serious about it now. didn't you say you shouldnt pay their asking price for them? found one we love but think its kinda high. Its a Fleetwood. Entertainer.
Please Pm me if you are the one. LOL

[Ga_mom_of2]

I'm not DBackfan. I have been looking at buying a home also. Have you been pre-approved for mortgage?? Alot of companies will NOT approve the home unless its on a permanent foundation. We have been pre-approved. We are most likely gonna get financed through fannie-mae. they WONT approve a mobile home unless its on a permanent foundation. Also choose WISELY. They are extremely hard to turn around and sell if you decide you need something bigger, etc. If this is out of line I apologize. I just wanted to let you know what info I have found since we started shopping a few months ago. GOOD LUCK!!! and CONGRATS!!

[lisarae]

no we haven't been pre-approved, but be need to be correcting a few things that were inaccurate on our credit first. we were going to go through the lenders that the mobile home lots have around here. Is that not a good idea? I know we should shop around for that too, but we are basically just starting to look. We have some issues with land for right now also, so as soon as we get that straightened out we should be on our way.

[lisarae]

bump

[tigger4]

You might want to check with the lenders in your area to see what the current mortgage interest rates are for a manufactured home. In my area they are currently between 11% and 14%. Higher if you have bad credit. This is normal for manufactured homes. I have never seen anyone get the 5% interest rates that they get on stick homes. They just don't offer it. So take that into consideration when you purchase a manufactured home.

Also Gamom2 is correct, manufactured homes depreciate in value instead of increasing in value like a stick home. Especially ones in parks. It is different if they are on a foundation, but not a lot different.

We looked at a beautiful 3,000 square feet manufactured home not long ago. The asking price was $140,000. But, to put it on land was going to cost almost as much as the asking price of the home. By the time you buy the land, move the house, put in electric, septic, water, set up fees, and permits it was over $100,000. Of course I live in the Northwest and things are more expensive here.

[janelle]

I believe she went into the hospital for an operation. Not sure how long she will be gone.

[lisarae]

weve talked to a lender, and he estimated 10% interest and he said that was kind of high. Our land is will be given to us, so we wont have to pay for that, and all the utilities are already hooked up. So all of that is taken care of.

[Ga_mom_of2]

Lisa,
Have you guys looked into having a house built since you already have the property?? You could get a house built better,stronger and you will be able to sell it when you ready to upgrade in the future. 10% is high. We were pre-approved at 6.35% for a 30yr mortage. I would HONESTLY look into have a house built. If you have the land you have an advantage that MOST dont have. You should be able to get a house built at what price there asking for the mobile homes. If it was me in your postion, I would NOT buy a mobile home. Most of the ones here people CANT get out of when they want to. I would do some research and see what kind of house you could have built. cost wise and all. I bet you could find NICE houses for the price your gonna pay for a moblie home.

[lisarae]

My husband and I are going to look into that this week. I am desperately ready to get out of this place. Weve been her WAY to long. Hopefully we can do something quick. Thanks for all the input.