Florida And Mobile Home Mortgage

Are you looking for an effective way to finance the purchase of your Florida mobile home or for refinancing one? The news has a new story everyday about the market slump and lenders going out of business. But the fact is that the interest rates are at an all time low and going lower so borrowers for Florida mobile homes can get loans at competitive rates for either a manufactured home or mobile homes.

Your position stands good if you have a good credit standing and you are on the look out for refinancing your mortgage or buying a new home. Lenders are willing to fund mortgage loans and they will give you competitive rates for your mobile home loan. With an FHA mortgage program you can still get about 97% financing even if you don’t have money for a down payment.

Guidelines are being rewritten by lenders and most go with the principles of the past. Homebuyers can get good rates of interest through the FHA or Federal Housing Authority. The FHA ensures that if a mobile home buyer or owner defaults on some payment of the mortgage, the lender is insured by the FHA for the same. This gives the best interest rates to would-be purchasers of mobile home loans.

There have been some changes in the process of mobile home purchase but lenders are aware of the regulations pertaining to mobile home loans and they will guide you properly to ensure that you get the best deal on your purchase or refinancing needs of a mobile home.

Entry Filed under: Manufactured Homes,mortgage lenders