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Mobile Home Refinance

Refinance your mobile home whether it is a singlewide or doublewide. You don't have to own the land.

Up until now it has been nearly impossible to refinance manufactured housing at reasonable interest rates, even if you had excellent credit.
With mortgage rates currently at a 40 year low, shouldn't you be able to get the same advantage? We think the answer is yes.

Many of our customers with spotless credit were still paying between 12% and 18% interest on their mobile homes. When they re-financed with us they were able to realize substantial savings. Apply now for a Free Savings Quote. 

Use this page if you already own your manufactured home, but don't own the land (or at least won't be financing the land) that the home sits on and wish to refinance. 


Refinance your Mobile Home without the land:

Purpose of loan:

  1. Lower your rate and payment: Yes. Credit must be at least good to excellent. (For Bad Credit click here or see below). Minimum credit scores = 620. Yes. Full income documentation only.
  2. Cash Out / Home Equity Loans: Yes. Available on a limited basis for homes without the land!
  3. Debt Consolidation / Pay Off Bills: Yes. Available on a limited basis for homes without the land!
  4. Home Improvement Loans: Yes. Available on a limited basis for homes without the land!
  5. Remove My Ex-Spouse from the loan: Yes. This is a common request - we can help.

Three Ways to Apply

(See Below)


Automated Quick Application:

Our Totally Anonymous Automated Application is the fastest way to answer all of your questions BEFORE you apply! Simply click here and tell us a little bit about your loan needs and our system will analyze your situation and direct you to the proper applicaiton. We will do the rest! A loan officer will call you shortly to answer any remaining questions and provide you with a customized savings quote.
Direct Application Form:

Use this form only if you are absolutely sure that you already meet all of the guidelines for these in park programs. If you still have questions at all please use the automated link above.

Download Application Form:

Forms contain complete instructions.

Refinance FAQ's

  1. What are the oldest mobile homes you will finance?
  2. My mobile home has an addition to it. Will that increase the value? Can I still finance it?
  3. Why are cash out or debt consolidation loans so difficult for mobile homes without the land?
  4. My credit is not the best. Can I use a co-signer on my loan?
  5. I am self employed. Can I still refinance my MH?
  6. How come most banks won't finance mobilehomes?
  7. My house is in a trailer park. I want to re-finance it and move it to a piece of land. Can I do that?
  8. Is there a minimum loan amount for your in park mobulhome loans?

Answers to FAQ's

What are the oldest mobile homes you will finance? For loans on homes where you don't own the land the best programs are available for those homes that are up to 15 years old. It is also important to note that there are now some limited options available for mobile homes as old as 1970! If you have one of these older homes and have been searching at all, you know how rare this opportunity is. Bear in mind that on a property this old the loan is primarily based on your credit and has little to do with the blue book value of the house. This means that your credit must be outstanding in order to qualify for one of these programs.

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My mobile home has an addition to it. Will that increase the value? Can I still refinance it? Mobile homes with additional square footage added on, stick built roofs added, or modified structurally are not eligible for financing under any of our programs. Under our guidelines these modifications do not increase the value of the home, but rather decrease it as the home can no longer be compared with other standard mobile homes. 

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Why are cash out or debt consolidation loans so difficult for mobile homes without the land? Homes in parks or on leased land are difficult properties to re-sell if a customer were to default on his/her loan. As far as we know, we are one of the few companies in the nation even willing to help customers lower their current rate to as low as 7%. We must limit our risk and be careful not add too much additional money to the loan. The very high default rate (foreclosure rate) on this type of property also contributes to the difficulty with cash out loans.

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My credit is not the best. Can I use a co-signer on my loan? Yes you can, but the co-signer must reside in the house. Non-occupant co-signers are not allowed. Most of the time this ends up to where we use the other person as the borrower and leave you on the title to the house. One important note; if we use your income for the loan, we must use your credit also. 

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I am self employed. Can I still refinance a mobile home? Yes, but there are some restrictions. 

First, you must have been running your own business for at least 2 years. You must also be able to prove that you have had this business for that 2 year period. Proof includes 2 years business licenses, tax returns in the business name, professional license, etc. 

Next, you must still be able to verify enough income to qualify for the loan. The most common scenario for small business owners is that they write off as much income as possible in order to pay the least amount of taxes. The catch-22 in this is that you end up looking like you don't make enough to survive on and this won't qualify you for a loan. We do not allow 'stated income' or 'no income documentation' for mobile home loans. 

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How come most banks won't finance mobile homes? The major reason for this is that the current default or foreclosure rate for mobile homes is far in excess for that of stick built homes or single family residences. With rates as low as they are and an abundance of customers, most banks have decided not to deal with the higher risk properties such as mobile homes. 

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My house is in a trailer park. I want to re-finance it and move it to a piece of land. Can I do that? Yes as long as the house you want to move is a Doublewide or larger. This would actually be considered a land/home loan. Click here to go to the appropriate page. 

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Is there a minimum loan amount for your in park mobulhome loans? There is no minimum amount for refinance loans however in order to realize a significant savings it is best that you owe at least the following amounts and that your current rate is at least 10%:

  1. Singlewides: $15,000.
  2. Doublewides: $20,000.

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Direct Application Links: Use these direct applications only if you are totally sure that you meet all of the guidelines for these programs. If you still have any questions we highly suggest that you use the Automated Underwriting System.

Regular (Full) Application
Short Form Application
Need results fast? Use the Regular Application to provide us with all of the information necessary to process your loan immediately. A loan officer will call you shortly to confirm the amount of savings for your manufactured home and to complete the streamlined processing of your loan.

Our Short Form Application is the contains less information and will simply put you in touch with a loan officer. Click here and send us your contact information and the best time to call. We will do the rest! A loan officer will call you shortly to answer any remaining questions and provide you with a customized savings quote.

Apply Here using the Regular Application Apply Here using the Short Form

2nd Chance Financing Program. We CAN help you ABSOLUTELY REGARDLESS OF YOUR CURRENT OR PAST CREDIT RATING!!! (Currently available in California ONLY - Other states coming soon)

Not Currently Available.

Please check back to see if the program is renewed at a later date.

Are you tired of being turned down? Do you just need a second chance to get started again? We receive numerous requests from customers daily to help them with situations like recent bankruptcy, bankruptcy buyout loans, loans to catch up their mortgage and stop foreclosure, do debt consolidation, or even get cash out, but they have bad credit, terrible credit, slow pays, tax liens - just plain really ugly credit.

Up until now we always had to turn these customers away, but now have a "Hard Money" program we can offer that can help you regardless of how bad your credit is. Whenever you make a statement like that most people react by asking what's the catch? The catch is simple. The rates are going to be higher than those customers with great credit ratings. You will also be able to borrow less in relation to the value of your mobile home than other customers (only up to 70% of the current value), but most people understand this. In return you can get the help you need when everyone else has said no. Click here to apply now.

This is two part program designed to help you in the long term.

This loan program is designed as a short term measure to fix a problem and recover from it. As part of the program we will help you to work towards re-establishing good credit and ultimately refinancing into a better rate and term. If you are ready to get back on the right track and just need someone to give you a second chance then click here to apply now.

Not Currently Available.

Please check back to see if the program is renewed at a later date.

 





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