credit score for mobile home loan

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current line of credit interest rates Less Than 40% of credit card holders Have Used This Smart Debt Payoff Technique – Paying off debt can be a major challenge, especially when you have credit. paying interest. It all depends on how large the remaining balance is and how the standard interest rate on the balance.

For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, which is currently at around 3.5 percent. If your credit score is below 580, however, you aren’t necessarily excluded from FHA loan eligibility.

Your credit score is an assessment of how likely you are to repay a loan in a timely fashion. Most people seeking a loan will find their credit (fico) score is between 350 and 800, although the possible range is 0 to 850. Here’s how lenders view credit scores: 720 – 850: Prime.

To find the monthly payment for this mobile home loan, we can use the Loan Calculator, Scenario #1 with $201,500 as the total loan amount (you are not borrowing this much but you will owe this amount when the mobile home loan is paid), 6.74% as the fixed interest rate, and 240 as the number of payments (1 payment/month for 20 years). The monthly payment is found to be $1,530.94.

WHat does your credit score have to be to purchase a moile home? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

home equity loan interest rate A home equity loan has a fixed rate. A line of credit has a variable interest rate that adjusts with the Prime Rate. With a home equity loan, you make fixed payments of principal and interest. With a home equity line of credit, you are only required to make interest payments during the draw period.

You could get a personal loan to purchase or refinance a manufactured home. Approval times are fast and you might have an easier time getting approved for a personal loan rather than a mortgage.

FHA Loan FICO Score Standards For Mobile Home Loans: A Reader Question. A reader asks, "Can you advise if I can obtain a loan with a credit score of 564. I want to purchase a mobile home" This is such a common question-many borrowers want to know if their FICO score is good enough to qualify for an FHA home loan.

Find your true home buying power. Use your own stats – including your full credit profile – to see how much home you can afford. Log in now Home Affordability Calculator. This calculator will give you a better idea of how much you can afford to pay for a house and what the monthly payment will be.