Can a doublewide with basement be refinanced in a 20 year fixed conventional mortgage?
Can a doublewide with basement be refinanced in a 20 year fixed conventional mortgage?
The finance institution says since I have a doublewide a conventional loan won't work so my soon to be ex-husband needs to apply for a FHA loan which will cost him more. Is this true about the conventional loan. We are going through a divorce and he is buying me out but I want to be fair and feel the FHA loan is ripping him off because of the PMI insurance which puts his term and pmt higher. Is there another alternative we can do. I forgot to mention there is no title and deeded with property. It also appraised at $115,000 and he needs to refinance $92,000
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We refinance manufactured homes with VA, FHA and CONVENTIONAL loans. Feel free to contact me. My name is Bart and i have been lending since 1987. I am happy to answer your questions at 800 315 8803. I lend nationwide.
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Conventional is available you need a different lender - the issue is going to be the title - I assume with basement that the home is permanently attached - it must be up to code and they will check
How is his credit etc? If he qualifies it can be done
Let me know if you need help
Brian Barnes
Brian@aimwithfocus.com
Nationwide Lending