Land and home loans

Does anyone know of companies that do land and home packages. I filed bankruptcy and was discharged in March. Hubby did not file. His scores are about 600, but has several paid off loans on his credit. I show a car that I reaffirmed that is showing current.

We are in rural Oklahoma and are looking to purchase a doublewide or modular home and a small piece of acreage. Almost everything here that is rural is mobile homes or modular homes.

Thanks if anyone can point me in the direction.

Kelly

Does anyone know of companies that do land and home packages. I filed bankruptcy and was discharged in March. Hubby did not file. His scores are about 600, but has several paid off loans on his credit. I show a car that I reaffirmed that is showing current.

We are in rural Oklahoma and are looking to purchase a doublewide or modular home and a small piece of acreage. Almost everything here that is rural is mobile homes or modular homes.

Thanks if anyone can point me in the direction.

Kelly


To point you in the right direction, may I suggest you go with a stick built home, and NOT any sort of a manufactured house?

the value is guaranteed to go down, and you will have trouble selling it later, or getting it refinanced. Most companies today don't even finance doublewides....

there are still a few companies out there that finance land home packages for modulars and mobile homes. Country Wide and Greentree are just a couple that come to mind. Another thing, majority of the dealers that you would be buying from, more than likely will have available lots, acreage etc that you can choose from not to mention financing options through various lenders.

I would suggest that if you are definately leaning towards manufatured, that you should go the modular home route. The construction will and "finish" will definately be more "home" like.

And tin is correct about the value of the mobile home drastically reducing; however, modulars to seem hold their value fairly well here in NC. But I have also seen modulars that run 180,000 bucks. Might as well have a stick built if Im going to spend that much.

Just depends on how much you want to spend.

Does anyone know of companies that do land and home packages. I filed bankruptcy and was discharged in March. Hubby did not file. His scores are about 600, but has several paid off loans on his credit. I show a car that I reaffirmed that is showing current.

We are in rural Oklahoma and are looking to purchase a doublewide or modular home and a small piece of acreage. Almost everything here that is rural is mobile homes or modular homes.

Thanks if anyone can point me in the direction.

Kelly



Your best bet is going to be a modular home because most lenders treat it as stick built and you can not really tell the difference between. A modular home comes to the site in pieces and is atttached together and can not be dissassembled, a dobulewide comes on a steel frame and they take off the axle and wheels and set it on a foundation. Doublewide financing is very difficult. You can get a consturction loan on a modular home zero down with a 620 score 4 years out of a BK but the rate is going to be pretty high, but you could have some instant equity once you complete the constuction. The higher your scores the better your rate.