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How and when does refinancing a doublewide mobile home benefit? Double wide is 2 years old, but I've paid a huge sum toward the payoff since then. How do I refinace?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Guest.

Welcome to the forum. Is the interest rate higher of your present loan? How good is your credit? If you have a good credit score and you can refinance the mobile home loan into lower rates then you can go for it. Have contacted with your present lender?

Best of luck,
Larry

Guest

i am trying to refi so i can lower my payment i am on disability and its hard to make it after paying my bills 2529079944

smithsussane · Posted: Mon Mar 23, 2009 9:50 pm Post subject:

Hi rayrichardson!

Welcome to forums!

In order to refinance the property, you should have equity in it. Moreover, the lender will look at your income and your credit score before approving the refinance. If you have equity in the property and if you have good credit score and financial situation, you won't face issues in getting a refinance.

Feel free to ask if you have further queries.

Sussane

Guest

My husband and I have lived in our home since 2006. We have a 6.9% interest rate. We would like our mortgage payment to come down. A lender had told us because it's a manufactured home it can't be refinanced. We have great credit and have steady income qualifications. What can we do to lower our payment?

jameshogg · Posted: Mon Feb 06, 2012 1:01 am Post subject:

Hi murph,

I haven't heard of any such rule which states that manufactured homes can't be refinanced. You should contact other lenders and start applying for a refinance of your existing loan on the manufactured home.

Thanks

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