can we refinance a single wide mobile home with land

scsk03 · Joined: 10 Jan 2008 Posts: 1 1.32 Dollars($)

we are having troubile finding someone to refinance our mobile home it is a 1994 16 x 6o on 2.91 acres of land we would like to get away from our variable rate and find a fixed rate the last appraisal was in 2002 it appraised at 75,000 our mortgage balance at present is 49,000 please help thanks Dave

blue · Posted: Thu Jan 10, 2008 6:37 pm Post subject:

Hi,

Welcome to Mortgagefit discussion board.

Why can't you be able to refinance? Why the lenders object to refinance?

You can consider FHA. FHA is not score driven. So even if you have bad credit score, you can be able get it.

Do let me know why can't you refinance so that I can help you further.

Thanks
Blue

banker0679 · Posted: Thu Jan 10, 2008 8:22 pm Post subject:

try FHA or rural

yourbestmtg · Posted: Fri Jan 11, 2008 2:42 pm Post subject:

Dear scsk03,

It's going to be tough for you to get done. Unfortunately many lenders view manufactured housing as a depreciating asset.
You cannot go FHA - single wide manufactured homes are ineligible - the home must be at least 22 ft wide.
I am not endorsing lenders but try these 2: 21st Mortgage & United General, they specialize in manufactured housing. Here are the web addresses:

[.]https://www.21stmortgage.com
[.]http://www.ugmc.net/

Good luck! Very Happy

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