Where can I get an FHA mortgage for a manufactured home on 2 acres.?

Posted on Sep 14, 2012 in FHA Information

HARP Reputation Remains Robust
HARP, rx visit web the House Affordable Refinance Plan, for sale was expanded to take away loan to worth caps so that the plan would be offered to a lot more borrowers. Homeowners who have mortgages that had been sold to Fannie Mae or Freddie Mac prior to June 1, price 2009 …
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HARP two. Dominates Conforming Mortgage Landscape In Some States
The Property Cost-effective Refinance Plan (HARP) is a government refinance program meant for homeowners whose houses have lost value. It was initially launched in … The Freddie Mac version is identified as &quotRelief Refinance&quot. Both applications do the precise …
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Question by Lisa P: If FHA mortgages are insured by the government why do some lenders still require / charge you for PMI?
From what I have read, pharm FHA mortgage loans are backed by / insured by the government, link so how are lenders also allowed to require / charge you for PMI (Private Mortgage Insurance) on FHA loans?

Best answer:

Answer by bailie28
because the pmi isnt on that loan its on the part of the loan that couldnt be financed under those terms right? at least i know thats how it was going to be for us until we realized we could still use the va loan even though we already owned another house….thank god because the pmi was all a rip off to me…

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Question by “D”: Where can I get an FHA mortgage for a manufactured home on 2 acres.?
I AM INTERESTED IN THIS PROPERTY THAT HAS A MANUFACTURED HOME ON IT WITH A 4-5 STALL POLE BARN, viagra buy FENCED IN LOT WITH AN ASPHALT DRIVEWAY. THIS IS ALL ON ABOUT 2 ACRES. I NEED TO FIND A LENDER THAT CAN HELP ME OBTAIN THIS WITH LITTLE MONEY DOWN.

Best answer:

Answer by Paul C
DO NOT BUY A MANUFACTURED HOME…. I REPEAT DO NOT BUY A MANUFACTURED HOME!!!!!

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3 Comments

  1. Try this website to get you started:

    http://www.manuhome.com/faq.htm

    It will link you to Flagstar Bank. The company I used to work for sold all of our manufactured home loans to Flagstar. Manufactured homes can be a risk because not every company will provide financing for them and those that do may charge a higher rate to do so. This can make them difficult to refinance or sell later. But they are becoming more common, especially in Washington and Oregon.

  2. First, mobile homes are not considered by most banks as “improved” real estate, meaning they are just big pieces of personal property, and FHA does not insure personal property. Second, in these times if you want to put little money down you will pay for it with a high interest rate. Best place to find a lender for you might be to call manufactures of new mobile homes and see who they use on a regular basis… or buy a traditional single family home.

  3. For it to qualify it will need to appraise and be on a permanent foundation (at least this has been my experience as a Realtor). Make sure you find a loan officer that offers FHA or Conv. fixed rate 95% to 100% loans and ask your loan officer all your questions such as what are your closing cost. Another option for saving money out of your pocket is to have the Seller pay your closing cost. Good Luck to you and I hope this info. is helpful to you.