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Mobile home improvement loans - Can I get one?

Posted on: 13th Aug, 2012 11:37 pm
I own my manufactured home, never had a mortgage or payments. I need to get a loan for home repairs. My credit is not great. How can I go about getting a loan or refinancing using my home as collateral?
Hi enjoylife!

Welcome to forums!

What is your credit score like? If you have a score of around 600-620, then you can easily qualify for a FHA loan using the manufactured home as collateral.

Feel free to ask if you've further queries.

Sussane
Posted on: 14th Aug, 2012 12:38 am
Welcome Guest,

With a bad credit, it will be quite difficult for you to qualify for a loan. It will be better if you could improve your credit and then apply for a loan. You can check out the given page in order to know some steps to improve your score: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Posted on: 14th Aug, 2012 08:23 pm
hello guest,

the process of taking a mobile home equity loan is much simpler than taking a normal loan. this is because the mobile home itself will be kept as collateral, or to be more specific, the equity on the home will be the collateral.


:idea:
Posted on: 14th Aug, 2012 09:22 pm
I am agree with what Sabrina has said. You can try out a home equity loan on your manufactured home. You need to find a suitable lender for that.
Posted on: 23rd Dec, 2012 09:30 pm
Even though your credit is not good you can still afford to loan. There is what we call a Payday Loan that you can try. It's very easy to apply.
Posted on: 26th Dec, 2012 11:01 pm
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