Manufactured homes are incredibly difficult to finance at any price. Unfortunately, you may be stuck with the 9% for now.
Hi bev_newman!
Welcome to forums!
You can use a Title I loan to refinance a manufactured home but the home has to be your primary residence. Keeping in mind the present market situation, the lenders will do a credit check to approve it for refinancing. You should also remember that the lender will also charge you the closing costs when you are refinancing the loan.
You can consult your current lender if he will refinance your loan. But if he is not ready to do so or if you feel that the terms and conditions are not good, then you can even consult other lenders as well. This community also has a number of lenders and you can seek a no-obligation free mortgage consultation from them. You can then compare them with the market rates and select the one you can afford.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You can use a Title I loan to refinance a manufactured home but the home has to be your primary residence. Keeping in mind the present market situation, the lenders will do a credit check to approve it for refinancing. You should also remember that the lender will also charge you the closing costs when you are refinancing the loan.
You can consult your current lender if he will refinance your loan. But if he is not ready to do so or if you feel that the terms and conditions are not good, then you can even consult other lenders as well. This community also has a number of lenders and you can seek a no-obligation free mortgage consultation from them. You can then compare them with the market rates and select the one you can afford.
Feel free to ask if you have further queries.
Sussane