Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My credit is good, my equity is great... but I'm having a hard time finding a reputable company to refi my mobile home on 10 acres.
Anyone have any recommendations? I'm in Florida.
Thanks!
There were three alarms I heard in your post: Mobile home, 10 acres, and Florida. Unfortunately, this combination will prove to be very difficult, if not impossible. Recommend you contact whoever has the loan now.
I'm about 90 miles inland from either coast..hurricanes are much less of a concern than coastal property. By the time they make it this far they've usually weakened a lot. The codes for mobile homes in 2000 were required to be built to withstand 100 mph winds in 'zone 2' counties...
I understand their reluctance, I really do. I just think that the cases should be reviewed on a case-by-case basis instead of a blanket 'no'.
Going with the current lender is a no...I have Greentree. They have a clause that states for a $200 fee I can convert my ARM to a fixed rate. I thought it sounded like a great idea so I called. They'll lock it at a fixed rate of 9.3%!!!!!!!!!
I'm not sure I understand the relevance of the 10 acres on the decision? Logically it would seem that more acreage would translate to a higher overall value? Perhaps because it indicates a rural area and therefore fire/rescue would take longer to respond? If that's it I live 2 miles from my nearest fire dept.
I'll be fine. I don't have to refinance, I just wanted to get my interest rate locked at a lower rate.
Thanks for all the info.
Lenders want to lend on a home, not land so that is the issue with having the acreage. They also want the majority of the value to be on the home and not land.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
