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Spookyridr · Joined: 29 Sep 2009 Posts: 1 1.34 Dollars($)

I am looking for a company that will refinance a manufactured home on acreage. It is on a block and pilar set up, is a 1999 Golden West, 1533 sq ft, two baths and 3 bedrooms with a den. My interest rate now is 6.96 percent.
I need to lower my interest and payment. My husband and I are both retired and it is getting harder to keep everything paid.
Is there anyone out there that can help us?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Check with some of the lenders on this forum

jenkin7 · Posted: Tue Sep 29, 2009 10:26 pm Post subject:

Hi Spookyridr,

You can refinance your manufactured home, provided it is in good condition and you qualify for the loan. The interest rate on fixed rate mortgages is quite low. The interest rate on 30 yr. mortgages is currently something around 5% and that on 15 yr. mortgages is around 4.50%. Thus, you can definitely save some money every month if you refinance the existing loan at current interest rate. However, you need to have a good credit score and income to qualify for loan in this market.

You can go for a no-obligation free mortgage consultation with the lenders in this community. They will assess your credit scores and your financial situation and will let you know if you can qualify for a refinance mortgage. You can also contact your local lenders and check out if they can offer you a mortgage at a lower interest rate.

manoj_gopale · Joined: 16 Feb 2009 Posts: 488 0.00 Dollars($)

Spookyridr

welcome to mortgagefit..

If you get a modification in this market you will surely save almost 100-400 USD per month in interest alone.You can refer to jenkin's instruction for the no obligation free mortgage consultation.

keep in touch.......

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Looking for help in a refinance.