easy1

January 08, 2008

Posted by easy1

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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  1. 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.

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TonyLiu

January 10, 2008

Posted by TonyLiu

0 stars ( 0 ratings )

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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