I have Unpaid Child Support Showing on My Credit Report, Can I get Financing? The year of the mobile home determines the maximum LTV or loan to value of the mobile home in question.
The final determination if a 5% down payment will be sufficient will be determined by either an Advanced Book Value Report or an appraisal.
Many consumers live their lives, avoiding credit cards and paying for automobiles with cash from savings.
If you have always made your large purchases with cash, then continue by paying for your mobile home purchase with cash.
Charged off accounts are one of the most damaging items that can appear on your credit report and/or profile. This can greatly affect your credit rating and score. This does not mean that we can can approve consumers with limited credit, as stated, we are an A paper loan provider. If this person does not pay the debt, you are financially responsible, and the lending institution can come after you for the unpaid balance. Q: Can I Finance a Mobile Home for My Family Member with JCF Lending Group? We do not require previous mobile home ownership for an approval.You will need to have adequate equity in your home to make this possible.Example: Your home is appraised at 5,000 and you have 8,000 and 25 years remaining on a 30-year fixed-rate mortgage.
We may consider repossessions as long as the repossession occurred at least four years prior to application. Foreclosures appearing on your credit report are always cause for an automatic decline.