Financing question
We are purchasing a new MH in May. We would like to finance the purchase to preserve invested funds. Our choices: 1) home equity line credit (potential for increase in rate over time) 2) comme...
Forum Discussion
Good Sam and others default to Essex Credit, so you might skip the middle men and go directly to them. They also appear to have the lowest rates....3.99% at the moment. Easiest, by far is the home equity loan, but you're risking financing a depreciating asset with your home...depends on how comfortable you are with that....to me, it doesn't matter as I've never defaulted on an obligation and there's no reason to start now.
Rather than fill out countless applications on line, which, BTW, will affect your FICO score, I'd call an agent and talk directly with them telling them your concerns. Most competent agents will be able to tell you whether you're in the ball park with your financial information. Once you feel you're close, then start the verification portion of the application. Pull your credit report NOW along with your FICO score. This will allow you to have an intelligent conversation with the agent....good luck....Dennis
Rather than fill out countless applications on line, which, BTW, will affect your FICO score, I'd call an agent and talk directly with them telling them your concerns. Most competent agents will be able to tell you whether you're in the ball park with your financial information. Once you feel you're close, then start the verification portion of the application. Pull your credit report NOW along with your FICO score. This will allow you to have an intelligent conversation with the agent....good luck....Dennis
