Home Refinance for Manufactured or Mobile Home

Owning a mobile or manufactured home is one of the best options if you’re looking for an affordable house. These house types are known to be less expensive than a home that’s built on the site.

There are usually two financing options when you have a manufactured home, either with a personal property loan (especially if it’s not permanently connected with a foundation) or a mortgage. Often times, these homes are financed with personal property loans. But either way, did you notice that you’re paying too much interest? That’s where refinancing enters the scene.

Home refinance for your mobile or manufactured home will lower your interest rate on your existing loan.

Refinancing gives you the chance to save thousands of dollars over time. One thing to consider when refinancing your current mortgage is that your total finance cost may be higher than the life of the loan.

If you’re planning to permanently affix your mobile home to Federal Housing Administration-approved foundation means you have to meet all current FHA lending guidelines. Home Refinance can help you for an FHA lending eligibility to improve the value of your home as well. So at the end of the day, you end up with a lower interest rate and a more valuable home.