Get Financing Help For Your Texas Mobile Home

Everybody needs a home where one can feel secure and comfortable. However, with escalating prices, it may be difficult for some to buy a home. Nowadays, it’s definitely not that easy to afford your dream home. But with the help of great home financing schemes available in Texas, you can turn a Texan mobile home into your dream home.

An alternative to these expensive conventional homes which are constructed on the site, are mobile homes. These mobile homes are relatively cheaper and are much preferred in rural areas. As their name suggests, mobile homes can be moved to a different location.

Initially, mobile homes were considered ideally for people who always need to move to different places every now and then, such as the construction employees. However, because these mobile homes are less expensive that the traditional homes, more and more people are looking into getting themselves a mobile home instead. In Texas, you’ll probably find several mobile homes stationed in vacant lots, such as parks.

There’s one catch, though. As compared to traditional homes, you might find it a little harder to look for financial institutions which can help you finance your mobile home. However, you should still be able to find yourself a lending institution with a great mobile home financing deal that can work within your set budget.

In Texas, these mobile homes are quite popular, and thus, it shouldn’t be that difficult for you to obtain a mobile home financing. Texas is a relatively large state and there are a lot of residents who would prefer to just move from one place to another. Usually, these mobile homes can be placed in parks, or you can even lease a community lot.

Some financial institutions refuse to finance mobile homes, or if they do, they have some restrictions to the kind of mobile home that qualifies for financing. Usually, those mobile homes that have been constructed over twenty years ago may not qualify for financing. The same thing goes for altered mobile homes or those with some structural modifications. Obviously, the value of old properties has already largely depreciated, that’s why you’d find it difficult to look for financial institutions to finance old mobile homes. Also, since altered mobile homes could not be anymore compared to standard mobile homes, their value may have also decreased.

Most banks do not also offer mobile home financing. The rate of foreclosure for these mobile homes is set at a higher rate compared to the traditional homes. Mobile homes are considered to depreciate much more quickly, which makes it risky for banks to take these in as collateral. Also, if you manage to get financing for you mobile home, the financing term is usually less than the thirty-year home financing offered to traditional loans. In addition, the interest rates can be slightly higher. That’s what usually happens in states other than Texas.

In Texas, banks are not the only ones which offer home financing. In fact, you can find a lot of other financing companies. There are even a few which specializes in mobile home financing. These types of companies are usually located in places such as Texas, where mobile homes are popular. Most of the mobile home financing deals offered in Texas would only require you to pay as low as five percent down payment. However, if you want to take advantage of the lowest interest rate possible, you should consider paying up to twenty percent of the purchase price.

Like getting home financing for conventional homes, there are a few criteria that you need to qualify if you want to finance your mobile home. It is virtually important to have a good credit history. Usually, these financial institutions have their own minimum credit score. Of course, your income and employment history are also considered as major qualifications. Most financing institutions also have a minimum price and measurement requirement for your mobile home. Usually, they may not finance a home which costs less than $ 20 000 or measures less than 750 square feet only. But with the great home financing terms offered in Texas, then you shouldn’t worry about getting a larger and more expensive mobile home.

Each financing institution have their own specific requirements. It’s highly recommended to contact them first before making any comparisons or decisions. Besides, it’s difficult to give out a good estimate of how much you’ll be paying unless they go over your qualifications and conduct inspections on your desired mobile home. Searching for these financing institutions should not be too much hard work. You can just sit in front of your computer and do your research online. In Texas, a lot of varieties of these financial institutions exist. Mobile home financing has made fulfilling people’s dream of owning a home easier.

Seller Financing – 8 Types of Seller Financing

Seller financing is extremely powerful because the buyer and the seller have control over all the terms of the transaction. That means that there are virtually unlimited applications for seller financing. However, all of the options for seller financing fall into just a 2 major categories: financing after the closing and financing before the closing.

The following 4 types of financing occur after the closing:

1. Free and Clear Financing – When a seller owns a property “free and clear” there are no liens or encumbrances on the property. In this situation the seller and the buyer are free to make any terms they want to in order to make a deal successful.

2. Equity Only Financing – This type of financing means that the seller only finances their equity in a property. The buyer is responsible for getting new financing to pay-off all of the seller’s encumbrances and liens. The seller is then free to finance the equity in the property.

3.Wrap Financing – This is also known as “subject to” or “blanket” financing. In this situation the buyer takes the property “subject to” the existing mortgage. The buyer is responsible for making mortgage payments to the seller and the seller is responsible for making mortgage payments to the original lender.

4.Combo Seller Financing – This type of financing is a combination of the financing options #2 & #3. The buyer can “wrap” the underlying mortgage and finance the seller’s equity.

The next 4 types of seller financing occur before the closing:

5.Purchase Option – Any time the buyer gives money to the seller (option payment) for the right to purchase the property at a given price (option price) and within a given timeframe (option period) the buyer has a “purchase option”. This is a form of seller financing because the seller still is responsible for the property and any payments until the buyer purchases the property (exercises their option to purchase) or the option expires.

6.Extended Closing – An extended closing is similar to a purchase option except that the extended closing is done with a Real Estate Purchase Contract (REPC). In the extended close the closing deadline is extended or put into the future significantly further than a typical real estate purchase.

7.Open-ended Closing -The open-ended close is also done with the REPC except the closing deadline is tied to a future event (such as the completion of an addition or remodel). The closing only occurs after the future event has occurred or has been completed.

8.Seller Partnerships – In this situation the seller may sell the property or may retain ownership. In either case, the seller contributes the property (and possibly some capital) as their contribution. The buyer would contribute the work and knowledge (and possibly some capital) to create or enhance the property value. The property would then be refinanced by the buyer or sold to a third party. The seller would get his equity and capital contribution plus an agreed partnership split of the additional profits on the transaction.

The great thing about these 8 types of seller financing is that every option can be used to benefit both the buyer and the seller. Using these seller financing options a seller can actually get a buyer to come in and improve their property, do all the fix-up and repair work at the buyer’s expense, and the buyer is excited about doing the work! I’ll explain how this can be in my next article…

Is epoxy flooring waterproofing or just water barrier?

If you’re considering installing an epoxy flooring on your home, there are several benefits of this type of flooring. These benefits include being highly durable, resisting chemical spills, and being very easy to clean and hygienic. Read on for more information about epoxy flooring. After installing this type of flooring, you can enjoy a lifetime of use without worrying about the upkeep.

Epoxy flooring is waterproof

Epoxy flooring is waterproof, but it’s not impenetrable. Occasionally, you may need to mop it down and use a cleaning agent. In that case, you’ll need to rinse the epoxy thoroughly to get rid of any soap residue. Moreover, you’ll need to dry the floor thoroughly after cleaning it. This will prevent mildew and mould from growing. Using a foam squeegee is the best way to dry the floor after it’s been cleaned.

Epoxy flooring is extremely durable, making it an ideal choice for industrial and commercial environments. Unlike ordinary tile and Kota Stone, which will develop joints over time, Epoxy resin stays seamless in any area. This is possible because it’s a thermoset polymer with distinct chemical and mechanical properties.

It resists chemical spills

Chemicals can cause extensive damage to floors and walls, which is why chemical-resistant flooring is important. A properly installed epoxy floor is resistant to chemical spills and releases. This type of flooring also meets industry standards for safety and environmental performance. If you need to install chemical-resistant flooring for your workplace, here are some tips to keep in mind.

When choosing your chemical-resistant flooring, it is important to choose a high-performance chemical-resistant coating. These coatings are extremely durable and can save you money by preventing the need to replace floors. For example, if you have a battery charging area, epoxy resin flooring can prevent sulphuric acid spills. It is also dust-resistant, making it easy to clean.

It is easy to clean

Epoxy flooring can be kept clean with a little effort. The main way is to use a dust mop. A big rectangular dust mop will work best for this purpose, but a softer push broom will work too. Just make sure the mop is wiped dry before moving onto the floor again.

You can also use a microfiber mop or hard foam mop. To clean stains, you can use a cleaning solution diluted in water, and then wipe the surface with the mop. Avoid using abrasive cleaners or steel wool, as these can damage the surface. During the cleaning process, you should use two buckets of water: one for the cleaning solution, and the other for the rinse water. After cleaning the floor, use a clean towel to dry it.

It is hygienic

Epoxy flooring is a high-quality material that transforms standard concrete and cement floors into non-porous surfaces that repel water and other liquids. This makes it an excellent choice for commercial kitchens, where floors are constantly in contact with spills and water. Furthermore, it resists stains and other damaging effects of cleaning products, such as pressure washing.

Epoxy floors are also very easy to clean. Because they are smooth and non-porous, they do not harbor bacteria or pathogens. Furthermore, they are resistant to chemicals, like vinegar and baking soda. The antimicrobial properties of epoxy flooring make it easier to keep clean than other materials.

It is durable

Epoxy flooring is a great choice for a variety of reasons. Its waterproof and durable properties make it safe for all kinds of impact. It can handle anything from parking and driving on it to storing heavy equipment and working on major projects on it. It also resists chemicals and is slip and shock resistant. It can even withstand temperatures of 200 degrees and is more fire resistant than concrete.

One of the biggest disadvantages of epoxy flooring is the time and work required to install it properly. The process can be time-consuming and messy. Even experienced DIY-ers may avoid attempting it. While most hardware stores sell epoxy flooring DIY kits, these often come with low-quality materials and do not give satisfying results. You’ll also need specialized cleaning equipment to do the job properly.