Updated almost 14 years ago on . Most recent reply
Modular not Manufactured/Mobile Home
I am in the process of buying a very nice modular home, which was built in 2008 and sits on a large crawl space. It has many options and includes 1 acre of land. It is located in the country, on a main route, and in a highly sought after school district. It is a 1650 sq. foot ranch with an attached oversize 2 car garage, which is insulated. My plan is to either turn around and sell the house, after adding some landscaping, which it lacks, or rent it out. This is my first property and the only reason I am buying it is because of the price I am paying for it. My personal home is about to be paid off, so I will have that out of the way. Can someone give me any guidance on the best way to finance this deal, like a 30 year fixed? Also, should I use my house as collatoral or borrow against the value of the home I am buying? Any help from anyone would be much appreciated by this rookie. This may, or may not, be the only property I ever buy. Who knows? Thanks in advance!