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Selling Mobile home in Wi and buying home in AZ

By Terry Savage on January 06, 2021 | Housing / Real Estate

I have lived in my 1973 mobile home in a senior community in southwest Wi for 21 yrs. I have remodeled the entire mobile home and deck to reflect the current times. I hope to sell it for $25,000 or more and have a savings of 6-10 thousand dollars by fall of 2021. I plan to move to the Queen Creek area of AZ and purchase a home. The prices of homes has skyrocketed since 2008-9 and are in the 195,000 and up in that area. Florence AZ is another consideration due to lower home prices. My question is should I put down as little as possible to have some extra cash (I have a pension, SS and will be working PT as I do now) or put down as much as I can afford and have less cash on hand) My income would be in the 45,000 a year range and I have excellent credit.

Terry Says

I loved your headline! At this time of the year, Arizona sounds like a winner. BUT, I dont’ quite understand your math. It seems like you could have a mortgage of $175,000 — and I’m not sure that you could actually GET a mortgage of that amount based on your income, despite your good credit. I suggest that before you do anything you go to Quicken’s Rocket Mortgage or Guaranteed Rate and find out how much of a mortgage your income could support.

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