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Manufactured Home Refinancing Inver Grove Heights MN

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.

Lol Incorporated
(651) 646-5525
5854 Blackshire Path
Inver Grove Heights, MN
 
Bremer Bank Na
(612) 451-6822
633 South Concord Street
South Saint Paul, MN
 
Gabriel Financial Group
(651) 994-1555
1270 Northland Drive Ste 370
Mendota Heights, MN
 
Pulte Mortgage LLC
(651) 406-9616
815 Nw Parkway #140
Eagan, MN
 
Gmac Mortgage LLC
(651) 264-3035
7616 Currell Blvd
Saint Paul, MN
 
Credo Mortgage Inc
(651) 389-1100
5874 Blackshire Path
Inver Grove Heights, MN
 
Mainstreet Bank
(651) 256-7252
2104 Hastings Avenue
Newport, MN
 
Minnesota Home Mortgage Corp
(651) 289-2000
971 Sibley Memorial Hwy # 201
Saint Paul, MN
 
Bankcherokee
(651) 227-7071
607 Smith Ave S
Saint Paul, MN
 
Horizon Financial Mortgage Corp
(651) 690-2720
2423 7Th St W
Saint Paul, MN
 

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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