5 Biggest TRUTHS About Manufactured (Mobile) Home Loans!

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5 Biggest TRUTHS About Manufactured (Mobile) Home Loans! When it comes to manufactured homes loans its time for you to know these 5 truths!! I have heard the most ridiculous stories in the last couple of years about the types of manufactured home loans that are you the consumer way too much money!! Buying a mobile home and getting a manufactured home loan shouldn’t be a guessing game in advice. I give you the cold hard facts with lender Paul Barranco in this video so you are armed with the knowledge of what’s right for YOU!!.
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16 июл 2024

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Комментарии : 244

@KristinaSmallhorn 3 года назад

*What Kind Of Home Loan Do You Have?* _To Know More About Manufactured Housing Click Here_ ➡️ ru-vid.com/group/PLL2NpJzFd3bsMaKD2r5SSDmdurZoh-t6f

@kleinstruction874 2 года назад

@Dr. DancingLion's Healing Room Uh-oh.... maybe he skipped town 😀 LOL

@HungryTrashPanda 3 года назад

The important part is a manufactured home must go on your own land. Or you have to purchase the land and the manufactured home together, or you’ll end up being stuck with a high interest rate chattel loan.

@USA-RIG-WELDER Год назад

I've been approved for a a new double wide mobile home I own the loan and approved with 21st mortgage but they approved with a 25 year chattel loan what exactly does that mean thank.

@danielmacias7630 3 года назад

This is the most helpful video I have ever seen . I am new to purchasing a manufactured home and had no idea of what I can do . I have been told that they only approve the loans for 23 years and they charge $100 application fees. I am definitely going to continue my research but this has been a big help .

@lumpialife 3 года назад

Great great video and info! I'd love to know more about using the VA loan for a manufactured home.

@NickSakalis 3 года назад

Great interview, This is definitely a Real Estate topic that should have more great videos made about it. Thank you for enlightening us on Manufactured Home Loans.

@KristinaSmallhorn 3 года назад

Nick Sakalis thanks for watching!!

@NickSakalis 3 года назад

@@KristinaSmallhorn I may not comment every time, but I never miss one of your videos. Keep putting out great content and I'll keep watching

@patriciamiller5262 3 года назад

I just started watching your RU-vid channel. I enjoy listening at your information . Thank you

@sheriszajna-mckeon9902 3 года назад

Thank you both for sharing this very imformation. We are overwhelmed! We are planning to do a land-home package. We would like to have it considered personal property so taxes are lower. Would you consider doing an episode on the attachment difference between that and modular... and what, if any, loans are available to people in this category. Is it better financially to attach it permanently in the long run? We are in our 50s and want to retire on 1 to 2 acres in the country in Pennsylvania. Any help you can provide would be incredibly helpful.

@sdcaeastcountyfamily Год назад

That was incredibly informative. Thank you

@ShellSellars-Smith 2 года назад

Thank you for doing these posts. Love your content. I wish I felt more comfortable in front of the camera and I could do these. I just get so caught up and panic when I watch my videos that I never post them! ;0)

@zuhawk15 3 года назад

great info! I'M HAPPY I FOUND YOU.

@shuga1313 3 года назад

Awesome video ! This was well given and well needed information ! Thank you so much

@KristinaSmallhorn 3 года назад

Thank you so much!

@LooksNCharm 5 месяцев назад

Thank y'all for the info.

@donkeyballs3307 Год назад

A bank considers a manufactured / ,modular home ,same thing to the bank ,they are considered worthless to the bank after they are 20+ years old

@jozeflak1868 3 года назад

Great info thank you so much it's hard to find honest lenders

@KristinaSmallhorn 3 года назад

Glad it was helpful!

@joesapienza8121 3 года назад

Thank you so very much Kristina ! ... You always manage to knock it out of the park with your informative and point on videos ! ... You Da best ! 💛💥🌻🌺💐🌼💛

@KristinaSmallhorn 3 года назад

Thank you so much!!

@joesapienza8121 3 года назад

@@KristinaSmallhorn 💛💛💛

@lkroad2442 2 года назад

Great info! Thank you!

@petemontoya159 3 года назад

Thanks again, you give great videos with a lot of information. Love your videos.

@KristinaSmallhorn 3 года назад

Thank you so much for watching.

@Shaykre19 3 года назад

Thank you so much for this video 🙌🏽💜🙏🏽!!

@leastarvee 2 года назад

This is such a great information!!! Specially for someone who doesn't have any idea about this topics. Lol Thank you for sharing all these information!

@StephanieJoRountree 3 года назад

Very educational, Kristina. Thanks for sharing.

@KristinaSmallhorn 3 года назад

Glad it was helpful!

@PrettiBoiMicah 3 года назад

Very informative; Thank You😊

@SynthiaDenise 3 года назад

What an information Video - Thank you guys so much. I'm actually in the process of obtaining my MLO and I was just curious about these types of Loans. New subbie!

@KristinaSmallhorn 3 года назад

Welcome to channel 🙋🏻‍♀️.

@caroltrimble7022 Год назад

We purchased a manufacture home 23yrs ago and put it on 3 acres of land we had home insurance on it suddenly they canceled our house insurance because 😊they said it's a mobile home we never had to use our policy but they claim they thought it was a built home

@ShoryoTombo 3 года назад

This video got me at the edge of my seat! My husband, a retired vet and recently retired from school board and I are living in a very deplorable mobile home. We are looking for either having it remodeled and expand it or get rid of it and buy a new one recently been placed on the property. We love this community and don't want to go elsewhere. So we only have two options. I work for the hospital over nights and saving our money. The problem is when we went to 21st Mortgage we got turned down because of our credit utilization. Husband is 746 and I'm 690 right now. We also have the percentage to put down but don't understand what went wrong.

@KristinaSmallhorn 3 года назад

It sounds like you need to find another lender.

@angelgirldebbiejo 3 года назад

Ask them what the problem is, they loan to even people with bad credit which u don't have so u have to ask what the problem is. Credit utilization is i think how much credit you got out. Also as a side note you can trade your old one in on a new one.

@sunshineforever8794 5 месяцев назад

@angelgirldebbiejo what do you mean you can trade in the old one for a new one? You can get paid to remove your old one? I’ve heard you have to pay to get the old one removed. Would you mind expounding on this? It would be great info! 😃

@mariavelasco6131 11 месяцев назад

Gold information . Gracias

@stella_vine 2 года назад

For Resident owned / Co-op parks, there can be a "buy in", which is the amount you need to give the park to buy the land. The loans discussed in this video sound like they are only for the structure.

@dixiegirl999 3 года назад

Thanks for the info. I have not lived in a trailor/manufactured home in ages. I'm about to sell our house in the city beginning of next yr & buy some land & a manufactured home. Of course, I will be paying cash that I get our of my house.

@KristinaSmallhorn 3 года назад

Best of luck to you! Cash is KING!!

@dantheman9395 3 года назад

Always informative! Also congratulations on cracking 43k. YREW crew

@KristinaSmallhorn 3 года назад

Thank you my favorite Dan da Man!!

@dantheman9395 3 года назад

Kristina Smallhorn ❤️❤️ stay safe as well. Let me know when you can that y’all are safe

@zanesutherland406 3 года назад

This is great information!

@KristinaSmallhorn 3 года назад

Thank you.

@YoungVell513 Месяц назад

Great interview. Very informative

@annamariethompson116 3 года назад

There's a clause to borrow w/ out penalty on your 401k to built a home!? I learned something, would've even guessed you could do that,.Thank You for All the HELPFUL INFORMATION You always provide.

@KristinaSmallhorn 3 года назад

Thank you!! It was new to me as well!!

@lindamatteson3189 3 года назад

Kristina, thank you for your informative videos. I would like to know how the VA loans work as far as down payment fees etc. Is it the same as FHA?

@KristinaSmallhorn 3 года назад

They are going to be a little different. You will have to meet with your local lender to see what your specific fees will be and also inspection requirements.

@ryanzweng2659 2 года назад

This is great thank you

@beng9411 3 года назад

Ok, thank you VERY much for this video! Im dealing with this right now and this was incredibly informative

@KristinaSmallhorn 3 года назад

Ben G I’m glad this had been helpful. It’s really information that can really empower you to make the smart financial decisions.

@LilBit5511 3 года назад

Hi Ben how did your process end up working out ? We are currently dealing with this now and could use some more tips

@PrettiBoiMicah 3 года назад

What happened next Ben?

@rockbottom582 2 года назад

Everyone should watch Never Buy A Clayton Manufactured Home on RU-vid

@stevenperez6871 2 года назад

This is a really informative video. Thank you both for your time. Small correction: As of May 2021, cash-out refinancing cannot exceed 65% of the loan-to-value and the term must be less than or equal to 20 years.

@KristinaSmallhorn 2 года назад

This video was made a while ago so, yes, things have changed. Thanks for the correction.

@thebobsmith1991 2 года назад

@@KristinaSmallhorn thank you

@ManufacturedHousingExpert 3 года назад

Great video!

@KristinaSmallhorn 3 года назад

Thank you.

@tjtj6540 3 года назад

Thanks guys 👍😁

@armandomaravillaramirez6732 3 года назад

Quick question, and if you have a video about this please let me know. Does it matter if the trailer park where you've purchased your manufactured home is sold? What should someone in this type of situation know before hand? Thank you.

@bcsbcs1340 3 года назад

Question: what is the most important thing to get the mobile home top price during the appraiser home? Size, age, location? Can u please give me hint? Trying to invest in a local booming mobile home community.

@michelledunn6628 2 года назад

Hi Kristina, very helpful info. I am in San Diego. Can an immobile manufactured home as investment property be able to get any regular loans?

@tedbragg74 3 года назад

Two things holding me back from buying: 1) can only qualify for a $28k mortgage, and 2) the 7’ ceilings are a wee bit low. Aside from Solitaire, who else manufactures homes with 8’ ceilings? That don’t cost a fortune? Almost landed a cheap 8’H portable classroom but county regs won’t allow converting to residence. 😖

@silentguck57 3 года назад

I'm new to buying a manufactured home. I have no clue on buying a home. I'm renting an apartment currently but come next march I want to have my own home. My question is how do the loans work for homes? I get there are different kinds of loans but which one is right for a single person? Do I just need to shop around?

@barrybridgwood8404 3 года назад

Thanks!

@KristinaSmallhorn 3 года назад

Bradley Bradshaw no problem.

@Machenziethemodel 2 года назад

I was pre approved for FHA but then I told him I want a mobile home and he told me no bank is going financed a manufactured home. I had to go to a mobile home sales site. Thank you for the info.

@tb1235 2 года назад

You just have to find the right lender. They weren't being truthful.

@poquitodefe 2 года назад

I have gotten fha on a single wide home

@thebobsmith1991 2 года назад

@@poquitodefe hi. What state was that in?

@originalclassics Год назад

I was approved on a double wide mfr fixed to a concrete slab. its from 1978.

@poquitodefe Год назад

@@thebobsmith1991 Georgia

@cafetalkunfilteredtruth6469 2 года назад

Hi Kristina, I really learned alot from this video. It was very informative. I wanted to know, If you knew what would be the best way to get a package loan; if you need to clear the land, as well as obtain a well and septic tank? Thanks.

@KristinaSmallhorn 2 года назад

Each state will have a different package loan. Here in Louisiana they would do what they call a “new construction” loan first and when it was completed they would roll the loan into a FHA or Conventional loan.

@eddiesmallhorn4021 3 года назад

I thought it was harder to get a loan on a manufactured home then it is.

@KristinaSmallhorn 3 года назад

It doesn't have to be!!

@EricaL2024 3 года назад

We got a usda loan 10 years ago. I’m in NC. Ours was for 30 years.

@Betaspost 3 года назад

@@EricaL2024 through what company

@Robertjsmithforhire 3 года назад

I am finding conflicting information about the Max FHA loan amount for a multi-section manufactured home. I saw somewhere around $93k for home AND land, but then I saw somewhere else that said they can go up to 85% above that based on the area. This would mean it would cap out around $172k. Are these figures accurate and how does this play out? Thanks!

@yenti2005 9 месяцев назад

Would it be feasible to combine the financing of both the mobile home and the land into a single loan? Are there any advantages or disadvantages to doing this? Additionally, how might this impact the monthly payment amount?

@maxmanzo2746 Год назад

What loan do you recommend for financing both land and manufacture home?

@patriciamiller5262 3 года назад

Thank you l in joy

@hfarthingt 3 года назад

Manufactured home was moved twice...basically becomes worthless? No one will lend. Found portfolio lender that will, but worried we won’t be able to refinance or use property equity to finance a new home/construction ...should we move on from this property?

@feixing8939 2 года назад

I am really interested in a farm land but there is an only mobile home on it and we want to use it as the primary residence. I have not had luck finding such kind of loan. Do you have any suggestions?

@The_Kayak_Guy. 3 года назад

I’ve not found a single lender who gives current federal rates for prefabricated or manufactured home. All of them offer loan shark rates of 8% or higher. Unless you have nowhere else to turn, I’d run from these rates.

@jaynebennett8398 3 года назад

Can you get a loan to purchase a used mobile home from a private owner? Or only from a retailer/manufacturers?

@mirandabaugher1436 Год назад

What if it's on rented or leased lot.? Will that be a whole different loan and not a mortgage.?

@Arizona_lilly Год назад

So beautiful the porchb

@kleinstruction874 2 года назад

My mother owns a manufactured home on her own land, it's paid off, but she cannot get a reverse mortgage or borrow against the equity because lenders turn her down when they find out there is no concrete slab or concrete foundation underneath. It's a dirt crawl space with skirting. Tag says home was built in 1986. Why can the home be bought and sold just the same as a "real house" but not be eligible to loan against when it's permanent and paid off? Secondly, is it even possible to cement the crawlspace floor? What can she do underneath the house to satisfy lenders? Thank you for your videos!!!! 🌟🌟🌟🌟🌟

@rosendomederos4125 2 года назад

Hi enjoyed your video. I am in the process of buying a manufactured home in Live Oak. What type of loan is needed to purchase from the dealer seeing that their banks have higher percentage. I own my land. Need some advice. Thanks

@1Life2Live007 3 года назад

What are the guidelines on the skirting around the mobile home? With the FHA loan.

@shanannahgins 2 года назад

I need to find financing for a single wide on its own property for 10 years. Are there any options? Basically I want to finance the land and the home is just a bonus while we pay the land off to build.

@thedjdaytrader 2 года назад

Just wondering if you can get a FHA loan for a new manufactured home and the land for it to be placed on or only places homes?

@tempemail5337 2 года назад

Can you add solar panels to roof or is that up to the HOA rules for communities?

@hardwoodharry6364 3 года назад

I absolutely love learning from you

@KristinaSmallhorn 3 года назад

Thanks Harry!!

@thehoop74 3 года назад

During covid I'm unable to work, are there any loans I could apply for get approved for a mobile or modular home with money in the bank?

@tracybehney7568 2 года назад

I have excellent credit large down payment and 21 st century said they can only give me a morgage rate of 7.3% as the lowest. The property is owned by family. Should I try to get the land in our name and then finance it with another morgage company to get a lower interest rate?

@raskasha 3 года назад

If a person is self employed can they use their tax return as a proof of employment, or can you only get a loan if you actually work for someone else? Thank you for all the great information, and also the funny videos! God bless!

@KristinaSmallhorn 3 года назад

You will have to check with your local lender on how they would handle your particular situation. I know self-employment loans are the most difficult but if you are claiming all your income without a ton of write off you should be able to get approval.

@sundancesoza2575 3 года назад

So I'm saving my money so as long as I have my check stubs is that considered mattress money?

@columbuspalmer846 Год назад

Can you get a manufacturer home if your only income is your social security?

@Arizona_lilly Год назад

I’m I. Arizona 90% the parks here are for the 55+ I am 20 years away and truth is there’s very few that are all ages and families which is awesome all the parks r very well and kept the ones w a community and with a lot rent which is all we have here there is no more lane maybe 1 hour away but . Best to try to pay tbese off 10-15 years We don’t want a old home anyways guys 1976 is old but if it’s still doing well awwsome

@extreme696969 3 года назад

Thanks for the information.. question...i still have a mortgage payment in my 1 acre property, half is empty and have this idea of trying to get a mortgage for a manufactured home and used ad a rental property..any thoughts? thanks..

@kleinstruction874 2 года назад

I wondered the same thing, somewhat similar. I don't see a reply to your question and as a building inspector, the financing is only half of your homework. You need to talk to the Building Department of your municipality and see if they will allow two homes on one parcel of land. Also, how would the Post Office assign an address to a new house appearing? Just my two cents 👍.

@GenevaSolvayRailroad 2 года назад

In my loan paperwork it seams that I will close then they build is that correct and when do I start paying for the home right then or when I take possession. Than you

@devilboykillz 3 года назад

what all places can u get a loan threw for a modular home. I went to clayton and they tried to hit me with a 11% interest rate.

@lakeyshacoles9513 3 года назад

Can you do a wrap on an fha to pay 0% out of pocket at closing?

@msbonita562 2 года назад

Hello,I have a question.. Would it be better to get a FHA loan if you have fair credit but 20%down payment because the interest rate is high for conventional..

@moebanshee 3 года назад

What nobody told me was I was renting a lot to put the house on and my interest is through the roof I'll never pay this house off because I don't own the lot and I can't get anybody else to finance it but this shyster group so by the time I'm done paying this house off I'll be dead 20 years.. you have to own the land that the manufacturer house is on or nobody is going to insure you a Except people you're buying the house off of.. triad

@TrickleCreekFarm 3 года назад

I'd like to learn more about twice moved manufactured homes and the loan options there. As I understand only VA is offering the option for financing those. What more can Paul share about these?

@kleinstruction874 2 года назад

I hope your home hasn't been moved to a different region of the country that differs from the environment the home was built for. The build sheet on my mother's house shows a U.S. map with zones and regions of the country they used to calculate the wind resistance, weight of snow load the roof will support, and the lowest temperature the furnace and insulation are capable of keeping the home comfortable. I hope this helps you or anyone else.

@TrickleCreekFarm 2 года назад

@@kleinstruction874 Thank you, that's an issue I hadn't considered, but no, it was within the same region. Further, I am learning many of the transporters are no longer crossing state lines as the fees and such end up making it cost prohibitive.

@mariamonshae2711 Год назад

How long does a foreclosed manufactured home affect your credit?

@elmaropajuelo9308 Год назад

CN I buy a mobile home like duplex?

@davidrhodes1287 9 месяцев назад

Hi there I am currently living a older manufactured home with a room addition it sits on an acre of land. It has been remodeled all the way through. My landlord has offered to sell it to me at a very reasonable price especially in today's market. I have been told I can't get it financed because it has under pinning. It sounds like you are saying that is not the case

@fireheartis1 2 года назад

Can you get a FHA loan if your land is free and clear, but the Manufactured home isn't on the land yet? Also what exactly is an orgination fee?

@ashleydanielle6355 2 года назад

I can’t find anyone to do cash out refinance. It’s a 99 model and a doublewide. Everyone we call says no! 😖

@dericdinh9926 2 года назад

what are the fees associates with manufactured homes such as land lease, propert taxes and etc..

@KristinaSmallhorn 2 года назад

Land leases will vary as well as property taxes according to the area you live.

@xxheadshotxx5562 2 года назад

So if is just an investment property you can’t rifinance the property?

@totalpkgproductions2797 2 года назад

Can I purchase a manufactured home with a conventional loan of around 30k (21k for home & 9k renovations) renovations included in the loan on a fixed 20 or 30 Year rate as a rental investment? Also, are you licensed to do business in California? Thanks for all your informative videos. 💕

@alicecoppers8980 3 года назад

So if I’ve had silver and gold coins saved for over 20 years I could not use that as a down payment?

@Mac_RacingKarts 3 года назад

Trying to get a mobile home loan and banks asking for over 10,000 down. Not doable

@dalebailey754 3 года назад

That helps a lot. I have family land that will be deeded to me, so I should qualify for an FHA loan. So, you are saying I will need 3.5% of the total loan, which will include septic other utilities, HUD foundation and site prep, etc...? Or, is it just the cost of the house?

@poquitodefe 2 года назад

You need to apply for financing through the manufactured home dealership since you already have land.

@SemreSito 3 года назад

I have a question. We live in Jersey and want to move to Florida and are looking for manufactured homes. If we don’t have established jobs when we get there, would they accept us if we have saved several months of mortgage payments? Like say 4 or 5k

@KristinaSmallhorn 3 года назад

If you are trying to obtain a loan it would be unlikely.

@OrganicBombshellBeautyProducts 3 года назад

I thought with a manufactured home being financed you needed more than 3.5% down. I’m in Phoenix, Arizona and I have been having a hard time finding a lender who works with manufactured homes.

@paniku23 2 года назад

Do you have any updates on your search? Live in Scottsdale and are looking around the Phoenix area

@rogerlopez1745 2 года назад

21st mortgage corporation does

@scarface11385 3 года назад

What is the max finance for a manufactured homes?

@kiaralyne3195 Год назад

Currently looking for a 2 bedroom 2bath manufactured home in Orange County California We have $175.00 cash. Can you advise us?

@crespojm 3 года назад

Another question please. Currently in the process of purchasing a new manufactured home under an FHA loan. The lenders practice is to lock in the interest rate after closing (which made me nervous) but right after they receive the certificate of occupancy. I’ve heard from others within the industry that it’s not uncommon but would love your insight / feedback or your lender colleagues opinion. Thanks again for the video

@KristinaSmallhorn 3 года назад

I will be answering your question live tomorrow on my livestream. :)

@mrsrhodes9736 Год назад

@@KristinaSmallhorn Hi there! What was the answer to this question please?

@road_warrior_1 Год назад

What about down payment assistance?

@kirkknutson998 2 года назад

What is the minimum loan amount on a mobile home?

@BznessVideoCreations 3 года назад

Can I get a land owned mobile home or are they all landowners placing manufactured mobile homes on their property?

@rebeccadees2300 2 года назад

What if you buy a used home that has to be moved to another location?

@theopkingdom3433 3 года назад

Kristina- who do I see to help me find the best loan? A mortgage broker?

@KristinaSmallhorn 3 года назад

the op kingdom yes, meet with at least three and compare what they are offering. I find that local lenders have the best mortgage packages.

@dgraves8407 3 года назад

I was told by Td bank in order to get the loan manufacture home they would need to put a lean on my land is this true I am putting 20 down and the manufacture home is 190.000

@clanaoaarmyofallah2557 3 года назад

$190k bruh where in the world you buying that from?? And what type of mobile home? , a mobile castle?? Thats the actual price of a real brick house. Crazy.

@tempemail5337 2 года назад

Is this price for double wide?