Forgotten Your Password?

Need to Register?

Question Icon

We own our mobile home title free and clear, and would like to use our home as collateral for a debt consolidation loan. Is this

by 289v8mustang781 from Nampa, Idaho. Mar 28th 2016 Reply


Kerry Greenwald (kerry@creeksidem.com)
#2 ranked lender in Washington - 15 contributions

Mustang781 we would need to get more information as we can do cash out refinances for debt consolidation. call today 360-571-5626

Mar 28th 2016
1
0

Can you tell me a little more about your mobile home? Is it on a foundation? What is the age of the home?

Mar 28th 2016
1
0
Lorne Harvey (lorneharvey)
#1 ranked lender in Washington - 418 contributions

Please provide details, is it a double wide, what year is it? Is it in a MFH Park?This will help us to guide you.

Mar 28th 2016
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

More info needed.. If you have a mobile home that is not considered "Real Property" then there might be companies out there that will lend, but you would be looking for a consumer loan not a mortgage.. if the mobile home was architecturally attached and IS considered "Real Property", then so long as you meet all other eligibility requirements, it's possible you can do a cash out refinance to pay off other debt. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 28th 2016
1
0

Our home is located in Nampa, Idaho, a 1987 Canyon Crest manufactured home, double wide, 1250 sq. ft. w/ 2 bedrooms, 2 baths, study, and a generally "open" floor plan, total purchase price, $27,900. While we own our home free and clear, (in Idaho, that means we have the "pink-slips of ownership" as it is a "mobile home") and we are in a 55 and older mobile home park but do not own the lot we sit on ($315.00/m rent including city water and sewer, garbage) The axles have been removed (at initial set-up?) and is "tied down" to the ground with multiple anchor points. We purchased the home out-right 3-1/2 years ago, and have since made quite a few improvements on it to both improve the home and to better serve and provide full access for my disabled wife, including: a ramp to the front porch and main entry, new 30 year shingle roof installed, complete floor/wall/ceiling insulation upgrade including new windows, exterior doors and the complete HVAC system replaced. We have also did a major remodeling on the master bath for free access with a power wheel chair, including new walk-in tub. All work was done by licensed contractors and to code. The home, to the best of my knowledge, has sat on this lot since it was originally purchased new back in 1987. The former owner, at sale, replaced all the carpets and vinyl through-out the home, and had the exterior repainted. It also has a 2 car 3/4th enclosed carport semi-attached to the home that can be moved (if ever the home is moved.) Property taxes on the home are $237. (currently) per year, homeowners insurance, $34/ month.

Mar 29th 2016
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

Unfortunately, based on the additional info you provided, your home is not considered "Real Property".. If you wish to pull cash out, you would need to contact either a "Park" model mobile home lender or find a company that does title loans.. but mortgage lenders cannot help.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 29th 2016
1
0
Subscribe to our news feed.