Originating a home mortgage?

Question

OK - I am clueless here....I am unable to get a loan or mortgage on my own for a mobile home in New York. A friend in Texas is willing to try and get the loan in her name. Would she be able to originate the loan/mortgage in Texas? Also ,There are only two mortgage companies in NYS that will allow you to purchase a mobile home....

sara sentor · Accepted Answer

Why aren't you looking low home loan for mortgaging. They are a very good option for and even allow you to save some $$. You can find a variety of low home loan rates in market. The option of your friend mortgaging on your behalf is fine too but if you do it on your own, there is nothing better than that. Lenders usually provide customers with utmost satisfaction and do everything possible for a smooth and quick process to take place. 
You can learn more on low home mortgages from: http://www.4refinancemortgage.com/refinancemortageloan/homemortgagerates.html
http://www.4refinancemortgage.com/index.html

Tony D · Answer

She may be able to help, but it will be treated as investment property for her. Tighter underwriting standards, lower loan-to-value ratios, and usually higher rates. She doesn't have to be in NY to originate the mortgage, but she'll need to use a NY lender. Connect her to the two lenders you are considering and have her discuss the prequalification process. That is a very good friend! Good luck.

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Originating a home mortgage?

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