Loans & Mortgages News Blog

Missouri FHA Loans for Mobile Homes

Did you know that it’s possible to finance a mobile home or manufactured home with an FHA loan?  If you’re in the real estate industry, you probably did but if you’re reading this as a consumer you probably did not know that!  Mobile homes are generally much lower cost than convention stick-built construction and the FHA realizes that this affordable housing option is an important demographic to hit.

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Manufactured homes and FHA financing, an Interesting Challenge

Financing manufactured homes can be a challenge to especially if you have less than 20% down payment because of the issue of mortgage insurance not insuring a manufactured home, no matter what the strength of the borrower. However, FHA will insure a mortgage loan on a manufactured home with as little as 3.5% down.

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Short Sales and Foreclosures - Differences Explained

Foreclosures and bank owned properties are getting a lot of play in the media right now and many buyers are focusing on these properties, along with short sales while trying to find a great deal on a house. For a change, I want to switch my focus from the buyer (the one I deal with) to the seller because I think there is some erroneous information out there about the difference between a foreclosure and a short sale as it concerns the owner of the property.

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