Blake Waverly

How to Get a Second Mortgage for a Manufactured, Modular or Mobile Home

According to manufacturedhousing.org, the manufactured housing industry produced almost 95,000 new homes in 2019. Approximately 10% are new single-family starter residences. About 63% of new manufactured homes are placed on private property, and 37% are in manufactured home communities. The average sales price of a new manufactured home without land is $78,500. There were 4.06 […]

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5 Best Conventional Mobile Home Loans + 6 Other Options

According to consumerfinance.gov, manufactured housing makes up six percent of all occupied housing, and a smaller fraction is mobile home loan originations. Of this small fraction of loans, 42% are considered chattel loans secured by the home and not the land. In short, a personal property loan. Here are some mobile home loan options to

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Don’t Own the Land? You Can Still Refinance a Manufactured, Modular or Mobile Home

According to Reonomy, 17.7 million Americans live in mobile homes, equating to about 5.6% of the U.S. population. One would think that there was enough business there for banks to make refinancing a mobile home as simple as refinancing for a traditional site-built home.  On the contrary, though, refinancing a mobile home is not as

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Hardship Loans for Bad Credit: Here are 22 Options

Hardship is defined as something that causes or entails suffering or privation. Hardship had not been in short supply for the past couple of years for millions of Americans since the start of the COVID-19 pandemic. And now, inflation rates are skyrocketing, and economic experts are warning of an impending recession. Read on if you

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Need Cash Out? Here’s How to Refinance Your Manufactured Home

There are many reasons to refinance your home loan. Some common reasons are lowering your interest rate and monthly payment, renovating your home, consolidating high-interest debts, getting rid of mortgage insurance, or even buying an investment property. Make sure it is a sound reason to refinance your mobile home with cash out. Let us show

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What are the Interest Rates to Refinance a Manufactured Home?

According to Freddie Mac’s Primary Market Mortgage Survey, there were about $1.6 trillion in first-lien refinance originations in the first half of 2021. This was a 33% increase in refinance activity compared to the first half of 2020. Borrowers who refinanced their first-lien mortgages in the first half of 2021 lowered their mortgage rate on

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Banks That Refinance Mobile and Manufactured Home Loans

Purchasing a manufactured home can be one of the most affordable ways to become a first-time homeowner. One would think it is a straightforward process to find banks that will refinance a mobile home or manufactured home. However, it is a niche lending market where most lenders do not touch this product. Who Refinances Mobile

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6 Best Lenders for Purchasing a Mobile Home with Bad Credit

We get it. Life gets in the way. Not all of us have perfect credit. According to Experian.com, most consumers have credit scores between 600 and 750. In 2020, the average FICO score in the U.S. reached 710, an increase of seven points from the previous year. Less-than-ideal credit can be discouraging if you’re in

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