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I have zero to put down and my credit score is only 684. Can I buy a mobile or other place for that?

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August 27 2012 - Flagstaff
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Yes!  You can.  Based on your credit score, you could get a USDA loan and buy in several more rural areas of the Phoenix Metro area, such as San Tan Valley, Maricopa, Buckeye, etc.  However, several places are losing thier USDA status effective October 1st, because they are growing too populated and they no longer qualify.  So if you were interested in going that route, you would need to get the ball rolling immediatly.
Another option is buying a home in Phoenix using the Neighborhood Stabilization Program, where you can get down payment assistance for buying in rehabilitating neighborhoods.  For both of those programs, I don't believe you can purchase manufactured, or mobile homes.  But there are some really affordable single family homes, and with how low interest rates are, you may be surprised to see how much house you can afford.  Feel free to visit my profile if you want more info!
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August 27 2012

USDA is a great program, but financing a mobile/modualr home is a little tougher these days. Single family home would be the best! Good luck

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September 09 2012
USAD loans http://www.usda.gov/wps/portal/usda/usdahome?navid=HOUSING_ASSISTA
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September 09 2012
UUSDA ia the way to go, but no MFH. Find  great real Estate Professional to work with in your area.
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August 28 2012
Profile picture for MikeAleksich
Your credit score and earning is what will dictate, by planning and becoming more liquid an even stronger credit score, you will open up more options to you. Befriend a good agent...it will take some time...they will help you realize what you want...critical you become very knowledgeable with this market...You will make your money initially in today's market when you buy... "lots of frogs to kiss...you will find you prince" Good luck
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August 28 2012
I do know of a lender that can do FHA on manufactured homes, but they are few and far between.  I don't know if they will do USDA on a manufactured home or not. 
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August 27 2012
The two fellas comments are correct but probably not for a manufactured home. There is hope for you. Just be sure you cover all bases before you get into a contract and have money spent on inspections and appraisal. 

Be sure to speak to a lender and get pre-qualified before you start looking for homes. Be sure to mention to your lender that you are open to manufactured homes. Not all lenders will lend on a manufactured home and often, you may have a higher interest rate or more down payment required.

Also, ask if your loan has a minimum purchase price requirement. 

Best Wishes! 
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August 27 2012
Profile picture for wetdawgs
If you have zero down, you may be able to find something rural that qualifies for a USDA loan or perhaps you are eligible for a VA loan.   Otherwise, plan on saving up a down payment of 3.5% or greater and closing costs.
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August 27 2012
 
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