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Manufactured Home Refinancing Bear DE

Why consider a manufactured home refinance? When you refinance your manufactured home, you are basically getting a new loan, usually with better terms, to pay off or replace the loan you currently have. While the mobile home refinance loan process is quite different than a real property stick built refinance, financing for manufactured homes is available in space rent parks, co-op parks, parks where you own your own lot, and mobile homes or manufactured homes located on privately owned land.

Equity One Inc
(866) 349-7588
1400 Peoples Plz Ste 201
Newark, DE
 
Nvr Mortgage Finance Inc
(302) 369-6255
56 W Main St Ste 305
Christiana, DE
 
First Horizon Home Loan Corporation
(302) 456-0776
220 Continental Dr Ste 308
Newark, DE
 
Countrywide Home Loans Inc
(302) 283-3500
200 Continental Dr#201
Newark, DE
 
Jpmorgan Chase Bank Na
(800) 780-6962
200 Continental Dr Ste 405
Newark, DE
 
American Mortgage Express Corp
(302) 731-7150
262 Chapman Rd Ste 104
Newark, DE
 
Sunset Mortgage Company Lp
(302) 737-5853
56 W Main St Ste 107
Newark, DE
 
Freedom Mortgage Corporation
(302) 368-7100
111 Continental Drive Ste 217
Newark, DE
 
Suntrust Mortgage Inc
(302) 453-2350
200 Continental Dr Ste 207
Newark, DE
 
Wells Fargo Bank Na
(302) 731-1400
111 Continental Dr Ste 102
Newark, DE
 

Top Reasons to Refinance Your Manufactured Home

4 Top Reasons To Refinance Your Manufactured Home
Tue 08/11/09 10:15:19 pm
by Josh Ladick

There are plenty of good reasons to refinance. I will explain some of the most common reasons and also provide some useful advice on what you need to consider before refinancing your mobile home.

Why consider a manufactured home refinance? When you refinance your manufactured home, you are basically getting a new loan, usually with better terms, to pay off or replace the loan you currently have. While the mobile home refinance CLICK HERE FOR FREE SEARCH MOBILE HOMES FOR SALE NEAR YOU loan process is quite different than a real property stick built refinance, financing for manufactured homes is available in space rent parks, co-op parks, parks where you own your own lot, and mobile homes or manufactured homes located on privately owned land. In no particular order , here are the Top Four Reasons to refinance your Mobile Home:


1. For a fixed rate loan, to provide stability   2 . To access home equity for home improvements
3 . To lower interest rate and/or monthly payments
4 . To consolidate debt/pay off credit cards.

The first reason for refinancing your mobile home mortgage is to obtain a fixed interest rate and eliminate the costly adjustable rate feature of your existing loan. Sure, an adjustable rate mortgage is a good way to purchase a mobile home with low initial monthly payments, however, the sporadic rate fluctuations and the potential for large interest rate jumps can be not only alarming, but very costly. This is why many homeowners consider refinancing into a fixed interest rate loan.
The second reason for refinancing is pulling the equity out of the mobile home; this is a popular reason for refinancing. Perhaps you are in need of some cash to pay for your children or grandchildren's college tuition, or you are looking to CLICK HERE FOR MOBILE HOME LOANS make some home improvements to maintain the value of your home. Planning for retirement is another common reason to tap into the equity you have built up in your manufactured home.


The third reason behind refinancing a mobile home is to lower your current interest rate and monthly mortgage payment. Now this may seem simple; who doesn't want lower payments? But even if you are currently in a situation where you
can afford your monthly payments, then refinancing your mobile home loan with a lower interest rate may allow you to shorten the length of your loan, pay it off sooner, and easily make additional principal payments towards the principal balance of your loan from time to time, if you so desire, to pay the loan off even sooner.



Now let's review the fourth reason that mobile home owners have for refinancing; consolidating debt, paying off high interest rate credit cards and auto loans. Taking cash out of your home to pay off debts that have high interest rates and non-deductible interest costs is a very popular reason behind refinancing mobile home and manufactured home loans. The interest on you...

Click here to read the rest of the article from mobilehome.com


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