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The Watercooler
A ? about getting approved for a loan, either a bank or non-conventional
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<blockquote data-quote="Lothlorien" data-source="post: 586791" data-attributes="member: 1024"><p>Call a mortgage broker. They can check with many different companies to see what you can be approved for. Get the pre-approval so you know what you can afford. Are you putting anything down? I don't know much about mobile homes, but with a regular home, you need to put some money down, unless it's a VA loan and even those are hard to get 100% financing. Apparently, after June 1, if you don't have 20% equity in the home and you pay PMI, you will pay PMI for the life of the loan, unless you refi after you reach 20% equity. Again, this is just for a regular real estate purposes. I don't know how the rules change for mobile homes. I think, around here, the mobile home communities have finance companies that they deal with directly. You may want to call the office and see what the requirements are.</p></blockquote><p></p>
[QUOTE="Lothlorien, post: 586791, member: 1024"] Call a mortgage broker. They can check with many different companies to see what you can be approved for. Get the pre-approval so you know what you can afford. Are you putting anything down? I don't know much about mobile homes, but with a regular home, you need to put some money down, unless it's a VA loan and even those are hard to get 100% financing. Apparently, after June 1, if you don't have 20% equity in the home and you pay PMI, you will pay PMI for the life of the loan, unless you refi after you reach 20% equity. Again, this is just for a regular real estate purposes. I don't know how the rules change for mobile homes. I think, around here, the mobile home communities have finance companies that they deal with directly. You may want to call the office and see what the requirements are. [/QUOTE]
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The Watercooler
A ? about getting approved for a loan, either a bank or non-conventional
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