Question : I'm trying to buy a mobile home where I own the land. What are the FHA requirements for the house foundation?Answer :Please use this home resource provided by the HUD for more information on foundation requirements for FHA financed homes.
Question : Please give me information on the home equity program for buying new mobile homes.Answer :Check this out for more information about home equity for mobile homes.
Question : We currently have a Mobile home and land finance through FHA, We found a brick home and the sellers would like to sell it ASAP. We will be going through FHA again. Do we have to sell our current homeAnswer :No, you do not necessarily have to sell your home to apply for another FHA Loan. However, the underwriter may be more reluctant to give you a loan for the home you are trying to buy if you still have another property you are taking care of. It would be to your benefit to try and sell your mobile home before applying for another loan. Even if you do not sell your mobile home right away, at least the underwriter will see, if it is documented in the information that you send in, that you are trying to sell your current home.
Question : We have a single wide mobile home with a fluctuating interest rate. We still owe as much as we started with 10 years ago and we just don't know what to do. Do you have any suggestions on how we can geAnswer :The best step for you to take at this point is to refinance your home and try to get a lower interest rate. You can apply for a home loan if you have paid all of your mortgages on time, if you have a steady income, and you are not in debt. You need to talk to a local lender to see if your finances would qualify you for an FHA Loan.
Question : What foundation requirements must be met to refinance a mobile home?Answer :There are several requirements for FHA loans on mobile homes. One of the key requirements is that the mobile home must be permanently attached to the foundation. Check this out for more information about FHA mobile home financing.