Manhattan Ks Foreclosures
Manhattan Ks Foreclosures
The Changing Face of Mfg / Modular Home Lending
Just the other day I was visiting a client of 10 years, a merchant of land home in Kansas.
We were talking about the challenges and opportunities arising from the loss of our former customers and product base to revolved around manufactured Zero Down Packages homeland.
Since Fannie and Freddie put the "Ka-Bosh" Building on our traditional two-stage continuous process, ie by evaluating instead of an upfront payment, which has almost completely changed its marketing approach to homeland modular packages. How ever, this has substantially raised the price of out of their homes.
That said, my last two Colorado was closing both HUD code and size. If that got your attention I'd like explain a little more. 10 years ago 99% of our transactions were conventional and today is divided between Conventional FHA and VA.
Most dealers are afraid to become a "Lender Government" because the potential cost and additional measures might be needed for approval, construction and closing.
NOT
In reality, not much different from what is already required by most building codes.
Moreover, Fannie and Freddie are not lenders also government?
It is hardly surprising that our fascination with the conventional land home was the ability to get a client in a home with little or no down payment. Then … We will see the option is available, Shall We!
FHA requires a minimum down payment, usually only 3% and VA does not require any!
They can extend for qualifying ratios and more relaxed than their traditional conventional loan guidelines transaction. Moreover, they allow the seller to pay for things that never were authorized by their previous housing transactions of land. Although the guidelines are currently in the process of change pending changes to the FHA, there are still many ways to the experience of FHA and VA Lender to facilitate your transaction
The solution and salvation!
From the recent sub prime disaster and risk-based changes imposed by the banks and Wall Street, the Government loan brings the Customer, the builder and lender, with a cost effective and functional approach to an industry wide problem. Not all lenders and mortgage brokers are experienced and or licensed for FHA loans and VA. Not all credit institutions FHA and VA Manufactured with experience in the Land Code or HUD housing finance construction. If you've never closed one of these transactions You are probably missing a significant portion of its business availability and market share.
In recent recent weeks have given us a code of Peyton FHA HUD and VA HUD code in Trinidad. Regardless of location or area of construction, Government (FHA and VA) The funding can and should make a difference in sales and better customer service. We all make choices ….. Choose your partner wisely!
Related posts: