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jeffpolo
45 Posts |
 Posted - 08/27/2008 : 2:00:17 PM
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Of all the lenders on our list, it seems that I can not find one still doing Mobile Homes. Low LTV - 55% two stated and one full doc. LTV's are all close to the same. One cash out re-fi and the others are rate and term with one purchase. Any ideas? Can you do this?
Thanks
Jeff
http://activerain.com/groups/loanofficernutcracker |
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robertrules
179 Posts |
Posted - 08/27/2008 : 2:09:45 PM
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| How is the mortgage history on the full doc loan? |
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crloan999
69 Posts |
Posted - 08/27/2008 : 2:17:56 PM
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| You might want to try UGMC ( I am not sure what state you are in) or US BANK - Not sure about the cash out but there is no stated. Good Luck. |
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jwestreich
53 Posts |
Posted - 08/27/2008 : 4:17:16 PM
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| if they're on block and pier foundation why not go FHA? All you need is an engineers report and a hud stamp (which most of them have) on the unit. |
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Canitclosethismo
19 Posts |
Posted - 08/27/2008 : 6:18:58 PM
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We have a conforming manufactured program for full doc, owner occupied only. Borrower needs at least a 660 score. 90% max LTV for purchases or rate/term and 65% max for cash out. If it does not fit in the box for conforming we also have a hard money manufactured program. Below is a little info on our hard money program.
*No Minimum Credit Score
*Single & Double Wides (even NOO)
*Second Homes
*Small Commercial
*Investment Properties
*Mixed Use
*Multi-Family
*Max loan amount $500,000
*Maximum LTV 65%
*No Prepayment Penalties
We only offer our hard money product in the states of Washington, Oregon, Idaho and Montana. Depending on loan we may be able to lend off of the tax value with photos and close in as little as 3 days.
Darlene George
United General Mortgage Corp.
Phone: 336.692.4053
Email: dgeorge@ugmc.net |
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waynepbright
3660 Posts |
Posted - 08/27/2008 : 6:27:09 PM
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www.vmf.com |
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PHELoanOfficer
90 Posts |
Posted - 08/27/2008 : 8:57:01 PM
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"*Single & Double Wides (even NOO)"
Do people buy mobiles for investment purposes? :P
You're going to have to go full doc with those deals.
Good luck |
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EMScommercial
5138 Posts |
Posted - 08/28/2008 : 09:31:05 AM
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they were hard as heck to get done when the market was good.... can't imagine how hard they are now a days!
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