can i get a manufactured home with no mortgage insurance?
exploring options for manufactured home financing in east bay, but i don't want to pay mortgage insurance or PMI - whichever if I don't have to. i have the 20% down but 680 credit which is heard is better accepted for manufactured. please advise by jonenders8563138 from Daly City, California. Jul 9th 2014
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Give me a call. We have programs for Manufactured homes with NO mortgage Insurance requirements. Your score is not an issue. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California, Arizona and Washington ~ www.LoansA2z.com ~ 888-889-9950
Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions
Typically mortgage insurance is required for any 1st mortgage when the loan to value is above 80%, so putting 20% should avoid the mortgage insurance as you are hoping for. Good Luck!
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