Can I refinance my manufactured home? I reside in the state of California in Los Angeles county.?
Question : Can I refinance my manufactured home? I reside in the state of California in Los Angeles county.?
I’ve been told that it is hard to find places that will refinance this type of structures. When I got this Home, I was told that since my credit was not that great, I could get it at 9.5% fixed. This was back in 2001 Ever since I been trying to find to find a place to refinance to a lower percentage and now seems like a good time to do that. I would really appreciate any help. Specially from the Professional side.
home refinance california
Best answer:
Answer by sithburns
What year was the home built?
You CAN refinance through an FHA loan if you can document your income. Can do up to 95% cashout or 97% rate and term refinance. Hopefully your credit is at least a 500 or preferably 580 mid score.
Interest rates on FHA refinances right now are around 5.875%-6.5%
You are looking at 8.5%. If that is ok, you can refinance..