Most manufactured homeowners refinance their manufactured home loans in order to lower their interest rates and monthly payments, shorten the repayment terms of their loans, tap into their home equities, or to consolidate debt. Basically, refinancing involves replacing an existing manufactured home loan with a new loan that pays off the remaining balance on the original loan, while offering one, more, or all of the aforementioned benefits.
Manufactured Housing News
If you’re looking forward to buying a manufactured home this year, getting your finances in order as soon as possible is critically important in order to qualify for the manufactured home loan you need. Simply put, not being able to get a manufactured home loan may prevent you from fulfilling your homeownership dream.
Saving money for a down payment on a house is one of the greatest obstacles to homeownership. While many people resort to less advantageous financing options to come up with the cash they need for down payments, an often-overlooked source of funds is the income tax return. In fact, the possibility of using the tax refund as a down payment to buy a home comes as a surprise to many taxpayers.