I found a property with a " single wide " home my bank wants well above 10 percent to finance. Are there lenders that will lend a a reasonable rate?
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easy1:
I understand the credit rating, etc. I do not have a problem quailifing for the loan on a stick-built home, can get around 6% on that, but, I really do not want a large house. A nice home with large workshops are my requirements, it just caught me off gaurd when my bankerquoted such a high interest rate for the single wide property. Thanks....Just wondering if this type of rate is standard on this type of property.
The banks are under to much pressure now with the mortgage crisis. Get a good loan now is harder than ever. Its not such much the lender as it is your credit rating and financial situation that will yield a better rate. Like all things, meet with as many banks as possible to evaluate the market opportunities that may or may not exist.
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