Refinancing your mobile home loan can:
– Lower your mobile home loan rates and monthly payment
– Convert a variable rate loan to a low fixed rate loan with stable monthly payments.
– Shorten the length of your loan and save thousands in interest charges.
– Combine a 1st and 2nd loan into a single loan.
Your information is secure and will not be sold. There is no application fee and you’re not locked into any agreements.
Application Process: There are no upfront application fees with Financial Services Unlimited. We will pre-qualify your credit at no cost. It is helpful if you know your credit score.
Interest Rates: Will vary depending on overall credit quality, age of home, collateral type, loan amount, loan-to-value and debt to income ratio.
Down payments: Most lenders require 10% down for a purchase of a manufactured or mobile home plus loan closing costs. Credit quality, debt to income and loan to value ratios will ultimately determine your required down payment.
Debt-to-income ratio: Most lenders prefer 35% housing ratio and 45% total debt ratio. Exception may be provided based on low loan-to-value, high credit scores and net disposable income.
What will my loan closing costs be? We provide loans from many different lenders based on your specific needs. Each lender will charge loan fees that may be paid at closing or financed into your loan based on your home value. Upon pre approval each lender will provide us with their origination and closing fees so we may share with you.