Lewis Smith Lake Life Made Easy: Smart Mobile Home Financing
Dreaming of waking up to breathtaking lake views and the tranquility of Lewis Smith Lake? But is the cost of a traditional lake house holding you back? Don’t worry, your lakeside dreams can become a reality sooner than you think!
The Mobile Home Option: Your Gateway to Smith Lake Living
If the idea of a mega-mansion doesn’t quite fit your current budget, consider the smart and increasingly popular option of a mobile home on an unrestricted lakefront lot. It’s a fantastic way to enjoy the Smith Lake lifestyle without breaking the bank.
Unlock Your Lakeside Dream with Flexible Financing
Worried about financing? We’ve got good news! There are attractive financing options available to make your Smith Lake mobile home a reality. Here’s a quick look at the requirements:
- Down Payment: Just 10%
- Credit Score: A minimum credit score of 700 is required.
- Construction Interest Rate: 9.5% construction interest rate, which will modify to the prevailing market rate at closing.
- Interest-Only Payments: Pay only interest during the construction phase.
- Draws: A maximum of 6 draws are permitted.
- Contractor: Only 1 contractor is needed for the project.
- Refinance Option: Can be treated as a refinance if you already own the lot.
- Purchase Option: Will be treated as a purchase if you are buying the lot with the mobile home.
- Home Size: Must be a double-wide or larger (no single-wides).
- Mortgage Insurance: Mortgage Insurance will be activated at closing.
- Outbuildings: Outbuildings are allowed, based on comparable properties.
- Pool: You can even build a pool with the construction loan!
- Occupancy: Must be owner-occupied or a second home (no vacation rentals or investment properties).
- Timeframe: A maximum of 12 months is allowed for the build or lot infrastructure preparation time.
- Lot Utilities: Lot utilities, including sewer and driveway, can be included in the construction loan, but must be done with the single contractor.
Ready to Dive In?
For more detailed information and to explore your financing options, reach out to the expert:
Diana Munoz Will
MortgageRight Birmingham, Alabama
Call/Text: 251-508-1336
Take the Next Step: Apply Online!
Ready to get started? Follow this link to Diana’s online mortgage application: http://dianawillteam.com
