2007-01-02 10:31:33 · 3 answers · asked by Leelee 2 in Business & Finance ➔ Renting & Real Estate
Yes you can, however it has been my experience that you will pay a higher rate on the loan. Our company has appraised manufactured homes for a refinance "cash out" for under this amount. Keep looking at different lenders, each one has different guidelines. I hope this helps.
2007-01-02 10:40:20 · answer #1 · answered by Bibbee And Associates Appraisal 1 · 0⤊ 0⤋
This depends on where you live, the value of the mobile home and on if you own the land it is on. If you don't own the land, forget about it. Many states have loan laws that will not allow lenders to charge a large % on a loan, so they can't lend on such a small amount. The fees, Appraisal, title, etc. will easily surpass the amount laws will let be charged, so they can't make money on the loan and won't do it. Now if you own the land, and it is worth say 200,000 or more, you could take cash out up to 100,000 and someone will do that for you. Just find a good mortgage broker. Otherwise you are probably out of luck.
2007-01-02 10:51:37 · answer #2 · answered by Ron B 3 · 0⤊ 0⤋
You should try to apply with eloan, they will probably be the only ones who will do it. They have a promotion now, If you use this link http://www.tkqlhce.com/click-2177451-10427742 they will waive the lender fees.
2007-01-04 14:52:24 · answer #3 · answered by insureman613 3 · 0⤊ 0⤋