Help - Search - Members - Calendar
Full Version: Loan choice
LoanUniverse Community > Community Forums > Loanuniverse Forums
sdchargers_fan
Hi
My in-laws have sold their home in Los Angeles and have about 375,000 cash from it.
They have found a piece of land in remote L.A. county which allows mobile homes.
They have a choice, pay cash for the land and then finance 1/2 of a new mobile home or vice versa.
Naturally, they will hold some cash for the incidentals (sewer, well, ...).
They prefer (but are flexible) a fixed long term conforming loan.

Questions are;
1. Considering rates, ease of finance (good credit, not excellent), and any other such things, which is more advantages to finance, The land or mobile home?

2. I also understand that she can carry her low "prop 13" tax value over to the new home purchase.
Is this the case for a land purchase with a mobile home installed in 2 - 3 months?

Any help would be appreciated.
pnmg
i would suggest purchasing the land, moble homes loose value over time. they require major repairs after 15 years or so . the land will gain value as their mobile home crumbles.
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2008 Invision Power Services, Inc.