what are loan requirement for manufacture home

3.50% multiplied by purchase price = down payment amount

if going FHA. 5% if going conventional

Or zero if qualified for VA loan.

7/17/14Bsanjay - good question ...for FHA loan you can put as little as 3.5% of the purchase price ...if you are eligible for a VA loan the down payment can be as little as zero and for a conventional loan , the down payment needs to be 5% or more of the price ......all these programs have detailed requirement / criteria for the property to meet ..if you are interested in these guidelines - feel free to call or email me so I can send to you ..thank and all the bestDave Skow WA MLO #278613 Eagle Home Mortgagew 206 714 9745 daveskow@eaglehm.com

It really depends on the loan program and if you meet that loan program's requirements. For FHA you will need 3.5%, for VA you will need 0%, for USDA you will need 0% and for conventional you will need 5% down. In all there are third party fees involved in the closing costs, which can be covered by lender paid compensation and or seller concessions. Make sure when shopping for a mortgage if it is a resale that it has not been moved more than once and it is affixed to a permanent foundation. Most lenders that offer manufactured home loans will want to lend on a double wide or larger. Additionally, there will be an engineering cert required on top of inspections and an appraisal, so make sure that you have enough money for those fees or your Realtor negotiates those fees, if you are not eligible for VA loan. Finally, if you are looking in the country, and the property has well and septic, make sure they have a well cert and the water has been recently tested. This is another fee that most buyers of manufactured homes are not aware of. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Enter a reply hereBsanjay - good question ...for FHA loan you can put as little as 3.5% of the purchase price ...if you are eligible for a VA loan the down payment can be as little as zero and for a conventional loan , the down payment needs to be 5% or more of the price ......all these programs have detailed requirement / criteria for the property to meet ..if you are interested in these guidelines - feel free to call or email me so I can send to you ..thank and all the bestDave Skow WA MLO #278613 Eagle Home Mortgagew 206 714 9745 daveskow@eaglehm.com