 How can medium income people afford a home in California? |
How is it that people can afford homes in California if a small home is $400,000 or more?
I know for a fact that people don't make 8 times as much as the rest of the country.....
... |
|
 Roomate problem? |
| I recently bought a house on my own. I got a renter to help allivaite the added costs of living. But this current roomate seems to think he "runs the show". He takes things of mine and ... |
|
 Will we be able to refinance our home ? |
| We bought our home in Riverside Ca. in 11/05 - we have a 5 years interest only loan - we have 3 years left on that loan. We can refinance at the 5 year point - but with the market the way it's ... |
|
 How can you buy a house if you have bad credit? |
| How can you buy a house if you have bad credit?... |
|
 My rental property has mould and damp. the landlord keeps telling me to wipe it off and keep windows open? |
| is this legal . i have reported it many a time and he says its because of double glazing. whats my legal ... |
|
 Has anyone had their home reposessed.? |
| If so where did they move to, do councils rehome them ?.... |
|
 I am purchasing a foreclosed home and I am trying to figure out what the property taxes will be. Help!? |
| Ok, so on zillow.com is says the property is appraised at $125k-149k but I am only paying $84k for the house. I am waiting on my appraisal from the mortgage company. Is this appraisal used to ... |
|
 If I plan to move mid month, do I have to pay rent for the entire month? |
| My lease is up as of 7/30, but my new apartment won't be ready until 8/7.... |
|
 What do you think??????????? |
What do you think of Oklahoma? Is it good or bad place to live, also whats the rent like around there (cheap or expensive). Be as honest as you can.
Additional Details
WOW!!! NOT THE ANSW... |
|
 How does buying a home? |
| affect my taxes at the end of the year? Does paying property taxes and home owners insurance have anything to do with taxes?... |
|
 Can a person put a lien on a house I've built that I didn't hire directly to do the job? |
| My husband hired this man (Mike) to put vinyl up on two of his houses. Mike subcontracted out the job to someone else (Joe) to do the job. My husband paid Mike for all of the work; however, Mike ... |
|
 Can a landlord walk into your apartment, and can they charge a guest rent? |
| my fiance lives in arkansas and his landlord wants to charge me rent for visiting him for my 2 weeks holidays and his landlord also walks into the appartment and into his locked room when ever they ... |
|
 If your renting a house not buying do you have to pay any taxes on it? |
| Im looking to rent a house but i heard that you might have to pay some kind of property tax... i thought that was only if you are buying a house.... |
|
|  |
mepurplegee | Can only get a mortgage for about $82,000 should i get a mobile home? |
i called countrywide re: mortgage and was told i dont make enough money to get a mortgage for a single family house.. that all i could qualify for is about $82.500 even tho i do have a gd piece of change(more than a few thousand) so then it got me thinking what about a mobile home???im sure i could get a used one for sale which ive seen for under $80.000 advertised. i live in mass so i guess im askingif i could get a mortgage dor $82.000 does that mean i could get a mortgage for a mobile home???? i have money to put down.i just keep hearing all kinds of stories i just wanna own something and it cant be a single family home i just want a little yard and plant some veggies,is that possible to do on a mobile park.??????ive never done this so confused about heating it etc....and renting the land any suggestings help...... |
 |
 
Stefani
 |
I would not get a brand new mobile home if I were you. If you do that you got land to worry about too. You should be able to find a great double wide of about 1600 square feet or a little more on a piece of its own property with central air and heat. Do not rent land with a home you are buying! EVER. I work for Smethers Real Estate and Appraisal in Arkansas, have seen a lot of worries over ppl having to move mobile homes. A mobile home should stay put. Check you For Sale section in newspaper or Thrifty Nickel, get an Agent you can count on and be patient in finding a home! |
|
julie's_GSD_kirby
|
alot of mortgage companies do not finance mobile homes. you would need to check with the lender where you applied for the loan to see if they would even do it. this is because mobile homes do not appreciate in value...they decrease just like an RV or a car, in fact they are made very much like an RV. heating costs in winter (I live in WI) are about $180 a month (not insulated as much as a single family home is) as for putting in a garden or landscaping that all depends on the mobile home park and what they allow. Also mobile home parks vary in respects to owning the land or renting. If you rent expect to pay anywhere from $200 to $400 per month this is in addition to your mortgage.(at least that is how it is in WI) and you can't just plop a mobile home down on a piece of land due to city or town zoning. so you have this thing for a few years and you want to sell....selling them is very hard (not alot of buyers for them) so you sit on it for months.....If I could do it again I would never buy one, worst investment! my advise to you....keep saving your money until you can afford the home of your dreams...don't settle for anything less!
good luck in your decision! |
|
gjjr@sbcglobal.net
|
I would stongly discourage you from buying a mobile home. First of all the mobile home is a depreciating asset, as soon as you roll it off the dealers parking lot it has lost value, like a vehicle. Most likely you will live in a trailer park and still have to pay rent for the land that your mobile home is on. Propane for heating and septic tanks for waste etc... Try looking at condos which typically should be cheaper by the square foot then single family dwellings. You will want an asset that appreciates and that you can use as collateral if needed. I would only suggest purchasing a trailer if you intend to setup investing in a mutual fund or savings account to offset your future net worth. Think about it after 30 years from now your house will be worth alot more than your trailer will, actually your trailer would most likely be worth about zero dollars while your house of $80,000 would appreciate at say a steady 4% per year and you would have nearly $200,000 that could be leveraged. |
|
Jilli Bean
|
A mobile home will depreciate in value. Try looking for a condo or a townhome. It will continue to appreciate. The market has cooled and it's a buyer's market. You can find a great deal if you look really hard. I know the market in Mass is still inflated, but it's a fabulous state to invest in. Go for something that will gain equity. In a few years you can sell, take the money you've gained from the condo and you'll have a more sizeable downpayment for the single family home you dream of. Good luck! |
|
Nate
|
Mobile homes tend to decrease in value over time so I'd find it very unwise, continue saving patience is the key here, because once you invest in that mobile home, relocation is very hard. |
|
bocoo_man
|
You are making a big mistake in purchasing a mobile home unless you are going to live in it until you die. As a rule never finance anything that is going to depreciate in value. That includes a car. If you can't pay cash don't purchase it. I know sound impossible but it is not. |
|
Rpm1
 |
well first mistake it calling country wide they like only b+ to A type clients and due to slow in market they are getting picky about those.
i would talk with a real estate agent in your area and see what is available. since you know cw said only 82k then start in price range. if you like something go for it.
would never get a mobile. single or double wide. you can get a modular. according to the studies i have researched they are about the same as a site built home but at a fraction of the cost. they also will appreciate over time. you just need to be wary of slick trailer jockies cause they will sal their are modulars and they may not be. a manufactured home has to licensed and comes with hud plates and certificates and axels and wheels and hitch. a true modular does not.
check with a few local mortgage companies they specialize in credit that is less than perfect which banks tend to ignore. and you may find a program which will work for your particular situation.
stay away from adjustable rate mortgages you can the pay the first few months but the increases may cause you to lose it all.
try someone who is selling fsbo or owner finance,. they may take a small down and or let you make payments for year to make the down and then let you take over the note or refi in your name after three years.
lots of options out there. but like everyone else i would stay from manufacutred homes unless you knew the land you were living on was yours outright and would appreciate more than the house will depreciate. but then you have time against you as at some point your land is going to be worth more than the home and you will have to throw the home away. |
|
betitodetroit
|
You can have a little garden in a mobile home park, but you don't own the land, and mobile homes have very finite life times.
I think you try to save for a bigger down payment, and/or look for a differnt mortgage lender...there has to be one that will work with you...
I would prefer to get the rattiest 82k home i could, rather than a really nice 80k mobile home. |
|
Luckys Charm
|
More than likely its because of your credit score. What you need to do is ask yhem about a stated income loan. I just got one in Aug. The thing is your middle credit score must be at least 620. What is your score now. There are ways to bring your score up.
Good luck |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 33 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 4 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 1 month(s) ago
| | | |
9 | 6 month(s) ago
| | | |
9 | 11 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
