Be Sure to Look at all Three Ways to Obtain Manufactured Home Financing Before You Accept a Loan
The three major loan programs for a manufactured home are:
FHA, Conventional and Equity Loans. These programs are for manufactured homes on real estate you own, or will own.
Not for homes in a park where you lease the land.If the company you call can't do your loan, you won't often be referred to a company that can do your loan because the loans are funded from different sources that do not interact with each other.
It depends on whether the home is brand new or previously lived in as to the loan program you can get.If you buy a brand new home, sold to you by the dealer, he can offer you some loan programs, both Government and Conventional that other loan sources do not have. But, if he can't do the loan, he probably won't send you to a Mortgage Broker that might help you.
For instance, some dealer programs don't offer loans on marginal credit where Mortgage Brokers do.The Mortgage Broker has programs for financing manufactured homes that are not brand new.
The Broker can offer you FHA and Conventional loans just like the dealer, but only for properties that are already standing and permanently affixed to real estate that you own or will own.
If FHA proposed changes pass there may even be 100% financing available for manufactured homes.
The Mortgage Broker can offer you the third type of lending as well.
This is called Equity Lending.
(Hard Money Loans).
The loan guidelines are only concerned with the lender equity position created through the loan.
They don't consider borrower credit.
See information about at Types of Credit Allowed. Equity loans are made by individuals and offered through mortgage companies.
This is one step away from borrowing from an individual.
They make short term loans of three to five years.
The rates are high, and the loan to value percentage is low. For instance, if you wanted to buy a manufactured home or just move one on to property you want to buy or already own, you might need an equity loan to get the home set-up and ready to refinance.
Then you could obtain a traditional type of long term loan.
Please see more information at California 433 Occupancy Certificate InformationWith the equity move-on-loan you would have to put at least 10% down, based on the future value of the property when the home is completed.
The future value can be used because your new home will be compared with similar homes in the immediate area that are already completed and have a known value.
In that sense, the value of your home is established before it is constructed.
If you have equity in the land the home will be put on, the equity is counted for you, as a credit, in the lending formula.For additional information contact: Judy Sellens at http://www.SellensLending.comSellens Real Estate Lending is a Southern California Based Real Estate Mortgage Broker offering Loan Programs for all types of Credit and all types of Properties.
The Company was started by Judith A.
Sellens in Orange County in 1991.
She has 40 years experience in real estate related fields.
The Company Home Office is in Riverside California and is licensed by the California Department of Real Estate. Judy SellensMortgage Broker951-943-8877.
Eliminate Your Credit Card Debt, But How?
Can a debt consolidation loan eliminate your credit card debt? A consolidation loan might (or might not) be the key. There are several things you must consider when making the choice to consolidate debt using a debt consolidation loan. First, is a debt consolidation loan your best choice to eliminate or substantially reduce your debt? There are other options available to you, including credit counseling and bankruptcy. Obviously bankruptcy is a last resort. You must examine several factors when making your decision on which debt reduction / elimination strategy to use.
You need to get information on debt consolidation to make the correct decision.?How much outstanding debt do you have??What is the interest rate of your current debt? Many credit cards have interest rates of 14% - 22%, depending upon your credit rating and payment history. Obviously, the higher your current average interest rate, the better...
Eliminate Your Credit Card Debt, But How?
Refinance > Eliminate Your Credit Card Debt, But How?
Refinancing Your Home Mortgage Loan
Copyright 2005 You're considering refinancing your home mortgage loan to save money. Interest rates are the lowest they have been in decades. But, you're asking yourself, "Is refinancing worth my time and effort. Can I really save thousands of dollars on my home mortgage loan?" The answer is yes. There has never been a better time to refinance your home mortgage.Before you find a lender to refinance your current mortgage, there are a few key factors to know.
It's a good idea to decide how long you're going to stay in your home, your current interest rate, credit rating and the value of your home. These are all very important things to consider before you refinance your home.Refinancing your home is a great way to save thousands of dollars over the length of your mortgage loan. You could lower your monthly payments considerably. This will depend upon your current interest rate.With today's online mortgage companies, it's easy for them to give you all the information you need. This...
Refinancing Your Home Mortgage Loan
Refinance > Refinancing Your Home Mortgage Loan
Marabella Commercial Finance Secures Commercial Mortgage Loan for 19th Jack in the Box Property, First Taco Cabana Property
Carlsbad, California (ContentDesk via ContentDesk Direct) June 14, 2006 -- Marabella Commercial Finance has originated financing for its 19th Jack in the Box Net Lease Property and the Companys 1st Taco Cabana Net Lease Property.
Both properties were located in Texas and this was a refinance transaction.
The loans being refinanced were short term loans and Marabella Commercial Finance structured longer term loans at the request of the borrower.The borrower was seeking longer term fixed rate loans with attractive low rates and loan proceeds to match the loan balances that were being refinanced.
Marabella Commercial Finance customized a 10-year-term fixed rate commercial mortgage loan with 20-year amortizations for both properties.
The interest rate was locked at application at an approximate rate of 6.45% and the loans were committed within two weeks of the borrower applying for the loans.
Mortgage...
Marabella Commercial Finance Secures Commercial Mortgage Loan for 19th Jack in the Box Property, First Taco Cabana Property
Refinance > Marabella Commercial Finance Secures Commercial Mortgage Loan for 19th Jack in the Box Property, First Taco Cabana Property
Online Mortgage Loan Companies Are Convenient
There are many reasons to use the internet to take care of your mortgage loan needs. Online mortgage companies can give you quick answers to your mortgage application and can often times give you an answer of whether or not you have been pre-approved within 24-48 hours after you submit your mortgage application. Online mortgage companies usually do not pull your credit on the initial application which makes it possible to apply to multiple lenders and get an idea of what they can do for you, without dropping your credit score. There are many online mortgage lenders who will take your application and submit it to hundreds of lenders and then provide you with the 4 best offers. This is a great way to get the lowest rates and terms you can possibly get, without having to do all of that calling around yourself.
Often, the lenders that send you offers will call you to see if the loan offer you received is what you are looking for. That is a good time to ask any questions you might...
Online Mortgage Loan Companies Are Convenient
Refinance > Online Mortgage Loan Companies Are Convenient
Plus Size Fashion Trend: Feminine Chic
A new fashion year is here and so are the latest styles for women looking to freshen up their wardrobes. Ladies, good news. Femininity is back!From the office to casual wear, you can show off the power of your femininity while still taking care of business. Jackets are a great way to add flair and style to your pants and skirts. Boucle jackets are hot.
Also, pairing a colorful denim jacket with a flouncy skirt gives you a variety options for a more dressed up casual look.You should have...
Plus Size Fashion Trend: Feminine Chic Refinance
Refinance > Plus Size Fashion Trend: Feminine Chic
BCE Elix Announces Contact Center Agreement with ePlus
Montreal, Qu?bec (ContentDesk) March 15, 2006 -- BCE Elix, a Bell Canada company focused exclusively on contact center solutions, announced today it has entered into a strategic agreement with ePlus Technology, a wholly owned subsidiary of ePlus inc. (Nasdaq NM: PLUS news), a leading provider of Enterprise Cost Management solutions. Under the terms of this agreement, BCE Elix will provide Business Consulting, Professional Services, Application development, and Support Services for ePlus contact...
Refinance
Refinance > BCE Elix Announces Contact Center Agreement with ePlus
Kerry Hotels Restructures with a New Parent Company, Crescent Heights Development(CHD).
Los Angeles, CA (ContentDesk) December 6, 2004 ?- Kerry Hotels, Inc., always on the cutting edge of the hotel and travel industry, has become a recognized brand among travel agents and hoteliers in the United States and Europe. In order to keep up with the pace and desires of the industry, this innovative company has formed a new parent company, Crescent Heights Development ("CHD"), and launched two new collections. Each collection, including Kerry Hotels will be a division of the parent company,...
Refinance hotels
Refinance > Kerry Hotels Restructures with a New Parent Company, Crescent Heights Development(CHD).