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Manufactured Home Refinancing Lehi UT

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.

First Magnus Financial Corp
(801) 766-3500
3305 Mayflower Way Ste 3
Lehi, UT
 
Utah Mortgage Lenders Association
(801) 363-1353
PO Box 1203
Pleasant Grove, UT
 
Utah Association of Mortgage Brokers
11650 South State Street Suite 350
Draper, UT
 
Dhi Mortgage Company Ltd
(801) 571-7101
12351 Gateway Park Pl
Draper, UT
 
Metropointe Mortgage LLC
(801) 619-9003
11620 S State St Ste 1401
Draper, UT
 
Mountain Pacific Mortgage Co
(801) 407-8326
2975 Executive Pkwy Ste 167
Lehi, UT
 
Primary Residential Mortgage Inc
(801) 495-5150
12401 South 450 East Suite F1
Draper, UT
 
Magellan Capital Mortgage LLC
(801) 816-9998
1111 East Draper Pkwy Ste 206
Draper, UT
 
Accelerated Equity And Development Inc
(801) 256-0044
65 Wadsworth Park Dr Ste 205
Draper, UT
 
City Creek Mortgage Corp
(801) 501-7950
11576 So State Street Ste 1202
Draper, UT
 

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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