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Updated over 8 years ago,

User Stats

81
Posts
9
Votes
Duane Hundley
  • Investor
  • Lynchburg , VA
9
Votes |
81
Posts

Financing Help

Duane Hundley
  • Investor
  • Lynchburg , VA
Posted
I found a 2br 1 bath house that's be updated and it also has a singlewide mobile home that's been updated too. They are asking $49k and I already have family that wants to rent out both properties. The issue will be having the mobile home on the property with normal financing. I'm going to talk with my credit union first, I have a good standing with to see if they will finance the deal but the down side is a 10 year loan. The seller has it listed that financing is available but not sure of the terms. What are the normal terms for someone that has 780 credit score, a good debt to income ratio? Properties will cash flow $300-$500 depending on loan term. Thanks

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