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Manufactured Home Refinancing Eagle ID

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.

Neighbors Financial Corp
(208) 861-6575
391 W State St Ste H
Eagle, ID
 
Countrywide Mortgage Ventures LLC
(866) 342-1171
408 S Eagle Rd Ste 103
Eagle, ID
 
Custom Mortgage LLC
(208) 377-9566
460 S Fitness Place
Eagle, ID
 
Countrywide Home Loans Inc
(208) 938-7726
408 S Eagle Rd#200
Eagle, ID
 
First Horizon Home Loan Corporation
(208) 938-6540
775 S Rivershore Lane Ste 220
Eagle, ID
 
Stoneridge Capital Inc
(208) 938-0965
827 S Bridge Way Pl
Eagle, ID
 
Vitek Real Estate Industries Group Inc
(208) 336-4899
661 S Rivershore Ln Ste 110
Eagle, ID
 
Security Funding Home Loans Inc
(208) 939-0002
483 S Rivershore Ln Ste 101
Eagle, ID
 
American Pacific Mortgage
(208) 938-2292
1117 E Plaza Dr
Eagle, ID
 
New Mexico Mortgage Company Inc
(208) 898-4790
10016 West Broadford Drive
Star, ID
 

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...

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