Bat Appreciation Month on October, 2024: Looking for financing info on Mobiles in San Antonio, TX.?
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I have some real answers for you on this subject. I have to answer your questions 1 by 1 so here goes. As far as it being tough to finance a mobile, it is. Banks require the 20% down because it is a depreciating asset. 20% down is normal in this situation. The banks require that the mobile be no older than 1978 to even get financing in the first place. Some banks might be different and will only go 10 years old it depends on the bank. The difference is the land. Will the land go up in value or not. Your appreciation will be in your land not in your mobile is what I am trying to get across to you. Make sure that your location is such that the land should go up in value. I assume that you are buying on the southside of SA. The prices are a little more reasonable over there. If it's the hill country up by say Boerne you will be alright. I grew up in SA and love the town my parents still live there. I am now in Arizona but plan on moving back to SA soon.
Problem 2 is the down payment versus buying points. Don't ever buy points on a loan. Let's say by buying the points your payment goes down $100 per month. That is $1200 per year saving right. So if you buy say 2 points at a cost of $4800 it will take you 4 years to recoupe the intial investment of $4800. I know you will say I will die in this home, I will live in it forever. Times and situations change, so 3 years from now you get married and want a bigger house. So you sell it and even make a profit. Except you forgot that you really lost $1200 because you didn't make it to the fourth year. I have to use made up numbers because you didn't include hard numbers. Not a big deal because you see what I'm trying to get across. Also consider the added equity that you will have by putting the 20% down. Right off the bat you are ahead of the game. So when times change and it's time to sell the home. Hopefully the land will have increased and you keep up the home enough to make a profit. And officially you don't have a co-signer they are a co-borrower. Cars are co-signer's and Homes are co-buyers, slight difference in terms big difference in meanings. You are going to run some numbers to see the cost versus benefit ratio, but I swear it will never work out where you have saved money by buying points.
As far as shopping for the loan here is what you do. You need to get a tri-merge credit score and report in your hands. Tri-merge means all 3 credit scores and reports, equifax, trans union and experion. Then you simply walk into different banks and pull out your paperwork. You tell them that you will allow them to see a current credit before we proceed with the loan, but based on the credit reports I have brought you what can you do for me. They will look at it and tell you what you qualify for. If you get far enough along and you like what you hear, get a loan through them. They will tell you "we won't give you an approval based on your report we need our own independent report". Thats fine and they will get it when YOUR ready to go ahead with the loan. But not until they give you the terms and conditions based on what you have presented them with.
The other point I would like to make is from now until your new home closes escrow and you get the keys don't acquire any new debt. This is very tricky, you apply for a sweepstakes, you just applied for a new credit card, read the small print. If you go shopping for a car, don't let them pull your credit. Don't get a new cell phone don't do anything that adds new debt. They are very, very sneaky so watch out.
Also be aware of predetory lenders, you are the perfect prey. They target people like you to really take to the cleaners. All mortgage people are commissioned sales people in one way or another. They may say they are not, but they don't tell you they get a huge bonus based on the number of closed loans. You do have a OK credit score not great, you have a little money down and don't take offense to this, you have not done this enough to be a savvy buyer and see all the hidden cost. Your ripe for the picking, so please please please watch out for this it is running rampet through the industry right now.
I hope I have given you some answers and avenues you have not looked into and good luck with you new home. Thx Pat
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How do I confront my ex without seeming "needy" or mad about it ?
No guy wishes to hear the dreaded words 'we need to talk'. Thats setting you up for distance right off the bat. If you wish to be back with him and it sounds as if you do, you will have to give him space first. You cannot make it sound as though you are holding a grudge or that you are upset. Instead approach it as a very good friend you do not wish to lose and show genuine concern for the changes in his behavior. He isnt acting like his usual self for a reason. Find out what it is without being quick to make assumptions. Maybe don't directly adress you and him relationship wise. Ask him about life in general and figure out if anything has been stressing him lately. See if he is vague or not. Maybe open up to what has been stressing you so he can feel more comfortable to come clean himself.
Figure out what is going on in this guys head this is the only way you will be able to understand what is going on everything else will be heresay and he will be on the defense mostly if you approach the situation as if he is in trouble. This may be why he is distancing himself. I think you have the upper hand, he is willing to see you so just try to be nice to him until you get him face to face.
Let him know how you are feeling about this distance and let him know that you just want things how they were. The issue is him really does he want things how they were. Are you willing to accept if he wants things to stay as they are? While being apart what have you guys done to improve the actual problems that caused the breakup to begin with? If you cant come up with much maybe its best not to get back together. He has vocalized many times he wants to focus on his career you have to respect his wishes...now if you are not willing to wait on him its okay to let him know you cannot continue waiting on his decision. As for the gift, see how he responds to the conversation first then give it to him accordingly as a reward to show your appreciation. If you feel as though he is undeserving, you dont have to relinguish the gift as this moment. Maybe wait until you get back...?
