Property Update #36- My Mortgage in Tennessee

Are you guys ready for part 2 of the shit show? I know you are!

Let’s go back to Tuesday Nov 14th, before the planning meeting. Our mortgage guy called Besties hubby and Bestie overheard. He asked if someone at the manufactured home place had contacted me in regards to my mortgage. It sounded like there was something sinister they had to tell me. So I was warned something was pending. I have been waiting for word on the property appraisal to be scheduled… and I had just obtained manufactured home insurance quotes based on the model I chose.

Mortgage co called me yesterday but I could barely talk due to this stupid sinus infection. I was able to talk to my mortgage person today. Apparently First Signature lending doesn’t do mortgage for single wide manufactured home models.

You heard that right.

It’s unacceptable that I am being told this information THIS FAR ALONG in the process. My manufactured home representative wants to pretend she wasn’t told, and my mortgage person wants to pretend I never mentioned this information. I have told them repeatedly that my model is a single wide.

The amount of incompetency that we have been dealing with this last week has been obscene. I just kind of have to laugh at this point.

There is this stigma against single wide manufactured homes. A lot of property restrictions say no single wides and a lot of places only allow double wides on their land. I guess because they think that single wides look too much like mobile homes and only classless losers have mobile homes apparently. Even newly built ones that are probably better looking than a lot of these site built homes in my opinion. (Eye roll)

I have 3 options.

1) Pick a double wide that fits my budget. I found out via my representative that only one model fits into my budget. It’s via the same builder that bestie has, so it will come as is. I don’t get to pick any of the finishes or alter anything in the layout. There are 2 things I really don’t like about it. There is no room for a bathtub in the master bathroom. And the closet is in the master bathroom. Why do people think that’s trendy? I’m not a fan. But after looking at it, I really do like this model. https://owntru.com/models/TRU28443RH/#

2) My mortgage person has to talk to his manager on Monday about possibly letting my project pass as is and categorizing it as not a single wide because I have wonderful credit and the construction project dollar amount isn’t.... so low they couldn’t justify it. But it has to go through management. I won’t hear if that is an option until Monday.

3) I simply just STOP.... and wait till the rates come back down. Live with bestie in their new house for another year or so. Then pick another mortgage company altogether after some time has gone by. I am locked in at 7.5% for the next 45 days. I thought I was getting a 7.2% rate but NOPE. I should have been at 6.9% like bestie but, Equifax. I should have just quit with this company after how they handled that fiasco. 7.5% isn’t a super awesome rate but rates are just going up and up and up. And in 45 days they might be at 9.5% for all we know.

I am leaning toward option #1 at this point. I will keep everyone posted.

Last updated November 18, 2023