Posted on: 24th Nov, 2009 11:52 am
i have a 91 single wide with 5 acres of land .my credit is not good but im not sure how bad. i need to refinance to pay of some high interest debts, so i can clear up my credit is there anyone who can give me advice. i could make my payments on time if i could get rid of some of the small bills. thanks .......
Hi carolmcwilliams,
In my opinion you should purchase your credit report and check out what your credit score is like. If you want to take a conventional loan to refinance the mortgage, then you should have a credit score of 720-740. Depending upon your credit score, you can take various steps to improve it. Check out the given page to know some steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
In my opinion you should purchase your credit report and check out what your credit score is like. If you want to take a conventional loan to refinance the mortgage, then you should have a credit score of 720-740. Depending upon your credit score, you can take various steps to improve it. Check out the given page to know some steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks
>>my credit is not good but im not sure how bad
It'll be very difficult to refinance a Manufactured Home with bad credit, so you need to know how bad it is. You can find out yourself at www.myfico.com, or a Loan Officer can tell you what it is when you apply for the refinance. Today most Lenders want a minimum FICO score of 620, and it'll be going to 640 soon. Give www.swmc.com a call - they're one of the few lenders left offering FHA refinances for Manufactured Homes.
It'll be very difficult to refinance a Manufactured Home with bad credit, so you need to know how bad it is. You can find out yourself at www.myfico.com, or a Loan Officer can tell you what it is when you apply for the refinance. Today most Lenders want a minimum FICO score of 620, and it'll be going to 640 soon. Give www.swmc.com a call - they're one of the few lenders left offering FHA refinances for Manufactured Homes.
