The Best Way to Obtain a Manufactured Home Loan Refinance - 09/23/07 12:46 PM
Th ebest way to obtain a manufactured home loan refinance is to do your due dillegence and the best place to do that is on the internet. Many banks and lenders have stopped lending on these types of properties and many mortgage brokers do not undersatnd this unique market.
The good news is that we specialize in these mortgage programs and our expert staff can give you the best advice and get you a great rate.
Searching the internet is the best thing you can do when looking for a lender that can help you with your manufactured home mortgage but make sure … (3 comments)
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FHA Secure and Manufactured Homes - 09/07/07 06:08 PM
The FHA Secure Loan has been the talk of the town so I wanted to touch on manufactured home loan refinance options for homeowners.
To qualify for the new program, being called FHA Secure, a borrower will have to prove the original loan was being repaid until it reset to a higher rate and they must have 3 percent equity in the home. The FHA does not supply the mortgage loan but it guarantees loans extended by banks and other lenders.
This new loan is realy just a "temporary hybrid" mortgage designed to provide some limited relief to our housing crisis. You … (0 comments)
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Manufactured Home Loan Refinance Professionals - 09/07/07 06:37 AM
Obtaining a manufactured home loan refinance in California can be tricky. In fact financing one of these homnes in any state can be difficult. Especially if you hire someone to represent you that is unfamiliar with these types of properties. It's like hiring a divorce attorney to handle your bankruptcy. Not a good idea at all.
Many properties in our state are valued much higher than the rest of the nation because the land in worth much more in certain areas. Many lenders do not understand that these homes can be worth $300,000-$700,000. This can be true in many other states also … (0 comments)
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Manufactured Home Loan Refinance Facts - 09/04/07 06:59 AM
Many homeowners do not understand the manufactured home loan refinance facts in today's mortgage market. Many lenders have stopped lending on these properties or they have tightened up their guidelines.
The first thing you need to determine is if you need cash out or you would just like to lower your rate. There are not a whole lot of cash out options available under Fannie Mae guidelines. The maximum cash out is 65% for a manufactured home on land and the maximum term is 20 years. Homeowners can go up to 95% loan to value for a rate and term refinance. Interest rates are typically … (0 comments)
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