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can anyone refinance a mortgage that has a stick built home but also has a mobile home on property also

by tracey_613_464 from Tunkhannock, Pennsylvania. Sep 8th 2012 Reply


Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 149 contributions

Certainty, the stick built home is considered real estate, the mobile home is considered chattel. The mortgage that you want to refinance will be secured by the home and the existence of the mobil home should not interfere with the refinance. You will have to qualify for the new loan based on your current income,credit and asset profile and if there is a loan against the mobile home that payment will have to be considered in your debt ratios. The mobile home does not present any special issues that would prevent you from moving forward. Log in to my website at MyHomeMortgageGuy.com for more info or to get the process started.

Sep 9th 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

It shouldn't be a problem, however, if the mobile home has been architecturally attached to the property, then your loan will be priced as if it was a mobile home property being financed, rather than a Single Family residence.. (Not good).. and you will have to find a lender that will finance MH properties, since not all do... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Sep 9th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,431 contributions

Joe is correct. The manufactured home could not provide any value to the property appraisal and the manufactured home cannot have been affixed to the property (it must still be licensed as a vehicle). Contact a local Mortgage Banker/Broker, rather than one of the big banks or national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Sep 9th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

It can be done. others have mentioned important details to note.

Sep 10th 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,791 contributions

Yes, you can do that from a loan standpoint. The other thing to understand is that the appraiser must give NO VALUE to the mobile home when appraising the property.

Sep 9th 2012
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Patrick Cashman MNLS# 215938 (pcashman)
#25 ranked lender in Pennsylvania - 18 contributions

I have had outlet for financing manufactured homes (wheels off - foundation - no longer mobile, only home) either alone or with standard residencial construction. Comparables are needed in the area and restrictions apply. I you would like discuss further please do not hesitate to give me a call to discuss.

Sep 10th 2012
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Jeremy Redlinger (JeremyR)
#29 ranked lender in Minnesota - 191 contributions

Yes but the mobile home value can not be added to the appraisal.

Sep 10th 2012
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