There are several reasons homeowners refinance mobile and manufactured homes, but the most popular rationale is the quest for a lower mortgage payment. If, for example, a homeowner can refinance their current mortgage into a new loan with a lower rate and better terms, they could save money every month.
Mobile Home Loan Calculator. Try different interest rates and term lengths to find the right monthly payment for you. To use the Mobile home loan calculator below, just enter the appropriate values into the fields below (or use the default values provided), and click the Calculate button.
With mortgage interest rates at historical lows, it’s a great time to refinance your manufactured home. By refinancing now, you can reduce your monthly payment or interest rate and end up saving thousands of dollars over the life of your loan.
With a ditech manufactured home loan refinance, you may be able to: Lower your monthly payment (by extending your term) Save on interest (by shortening your term)
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How to buy a mobile home: mortgage loans for older manufactured housing. This article resulted from a question asked by one of our readers. It turns out that many other visitors also wanted to.
Attention Manufactured Home Owners: You’re Paying Too Much Interest. For years Cascade has specialized in lowering rates and shortening loan terms for manufactured home owners and site built home owners alike. If you own a manufactured home then you need to ask yourself the following questions: Am I paying too much interest on my home?
Although the maximum loan amounts and loan terms vary from state to state, many lenders are willing to refinance mobile home loans. Maybe you want to refinance from a high interest chattel.
VA loans for mobile homes typically carry more weight than their more traditional counterparts since the likelihood of long-term depreciation is higher. Borrowers often will acquire a short-term construction loan from a local lender or builder and then refinance that loan into a VA mortgage once the home is complete.
Even if your mobile home isn’t financed with a mortgage, you can still use a refinance to move closer to your financial goals. If you own a mobile home and aspire to a greater level of financial wellbeing, a mobile home refinancing loan may be the right vehicle for you.