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Manufactured Home Refinancing Laconia NH

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.

Laconia Savings Bank
(603) 524-1212
10 Mutual Way
Gilford, NH
 
Meredith Village Savings Bank
(603) 279-7986
24 N H Route 25
Meredith, NH
 
Community Guaranty Savings Bank
(603) 536-0001
28 Main St
Plymouth, NH
 
Citizens Bank - Laconia
(603) 527-3000
587 Main Street
Laconia, NH
Type
Branch
Office Hours
Mon: 9AM-4PM
Tue: 9AM-4PM
Wed: 9AM-4PM
Thu: 9AM-5PM
Fri: 9AM-5PM
Sat: 9AM-12PM
Sun: na

Mortgage Made 4 You Com
(603) 524-1958
426 South Main Street
Laconia, NH
 
Amston Mortgage
(603) 528-5300
734 N Main St
Laconia, NH
 
Providian National Bank
(603) 286-4348
295 Main Street
Tilton, NH
 
Laconia Savings Bank
(603) 524-1212
10 Mutual Way
Gilford, NH
 
Citizens Bank - Laconia Drive-Up
(603) 527-3034
62 Beacon Street
Laconia, NH
Type
Branch
Office Hours
Mon: na
Tue: na
Wed: na
Thu: na
Fri: na
Sat: na
Sun: na
Drive Up Hours
Mon: 8AM-5PM
Tue: 8AM-5PM
Wed: 8AM-5PM
Thu: 8AM-5:30PM
Fri: 8AM-5:30PM
Sat: 8:30AM-12PM
Sun: na

First American Mortgage
(603) 293-2777
232 Sagamore Rd
Laconia, NH
 

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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