experiences with getting a mortgage / modular homes / permanent housing?
so I am in an extremely unstable living situation with my ex in his condo and I am suffering from health issues (Possible Crohn's Disease but we are not 100% sure yet)
I have to leave within the next few months, cannot move in with family, and after renting apartments for the past 7 years I would like to own the next place I live. Especially since I have health issues and I want to feel safe and not stressed.
Does anyone have any experiences or ideas to get permanent housing quickly and easily?
I would rather literally live in a modular home / mobile home at this point than rent another apartment with creepy maintenance men who come into my apartment without permission, dealing with cockroaches / mice / fleas / pests, and other issues that come with the nightmare of renting.
I do not have the best credit or income right now but I am starting to work again.
I was thinking of having a family member maybe cosign for things to help me out but I am not sure what to do.
Re: experiences with getting a mortgage / modular homes / permanent housing?
Buying a home it is a lot better when you are ready financially than doing it out of a place of rushing.
If you need to rush and change living situations rent.
This is where I would quote all the rules of Dave Ramsey before buying a house.
Re: experiences with getting a mortgage / modular homes / permanent housing?
You could probably get help from the government but that will take a long time
You may likely need to rent short term till you can get a solid plan to buy/obtain loan
Re: experiences with getting a mortgage / modular homes / permanent housing?
I second the answers above. I know you are desperate, but try to rent a modern and clean place, maybe for a bigger price but more secure, than rushing to buy a house, that you might regret later.
Take yourself the time to establish a budget, a saving plan, to know where you'd like to live and get the home of your dreams.
Not all the rentals are the devil, some do have decent and discreet owners, they are safe, clean and modern. There must be something you can find!
Big hugs!
Re: experiences with getting a mortgage / modular homes / permanent housing?
Here's a great informative video detailing EXACTLY how to buy a house and every step of the home buying process:
https://www.youtube.com/watch?v=gz5LjPFO1NY
Definitely agree with all the above! Do not buy a home if you are not ready, especially income / credit wise! It will hurt you much more in the long run with PMI and higher interest rates and predatory banks!
I understand not wanting to get an apartment, especially if your experiences have been bad, but if you're working on your credit and income right now, you can definitely start to look at higher end apartments that are safer, not infested, and are managed properly.
I know it feels like throwing away money, especially with a higher rent that you could be putting towards a mortgage instead. But buying a home is way more than a mortgage payment, especially if you're rushing into it. You need at least 6+ months of an emergency fund saved up, home repairs, down payment, interest, home insurance, and mandatory private mortgage insurance if you cannot put at least 20% down.
All my financially responsible friends & family members will house hunt for at least a whole YEAR before finding a property they want to purchase. They'll just rent a house for their family or stay with us for a year while house-hunting.
I don't know what the market is like wherever you're at, but it's pretty much a seller's market right now with how low the interest rates are. Homes are being bought up at insane prices in all the major cities right now.
I understand the desperation to get out of your current situation, I've been there! I went from living with family and having to hide my camming to renting airbnbs every month for a few years because my credit was so shit and I had too much debt and no savings. After years of struggle I'm finally in a proper luxury apartment and I'm also thinking about buying a house in a few more years once I'm even more stable.
Also I know how appealing a small home / tiny home / mobile trailer can be, because it'll be 100% yours and it's much cheaper than a traditional house. BUT they come with the same caveats as a crappy apartment, i.e. no privacy, thin walls, potential for pests because they're not as well built and insulated as a foundational house.
Re: experiences with getting a mortgage / modular homes / permanent housing?
I'd say look into renting airbnbs until you're ready to settle. Don't ever settle somewhere unless you are sure you will be happy there. I'd almost say just buy a camper and live in it until you're ready but not sure if that's your thing or not. The payments would be alot less than rent somewhere & you can move around as you like :)