Posted on: 07th Jul, 2009 10:11 am
i need help in finding a lending agency to refinance my mobilehome. can you help?...my doublewide mobile home is a 1994 fleetwood bricked underpinned axels removed on 2.24 acres of land . i have done quit a bit of remodeling, including hardwood floors in all but the master bedroom. there is a small deck on the back and a covered porch on the front. a new metal roof has also been put on the home. there is also a 30ft round pool with an enclosed deck. my credit score is 608 which i know is not the best in the world but also not the worst. this score was as of two weeks ago. i cannot find anyone who will help me with the refinancing. can you help me?
Is your home on a permanent foundation?
Hi briannstacy,
If you're looking for a conventional mortgage to refinance the loan, you would require a credit score of 700-720. In case of a FHA refinance, you should have a credit score of 620 at least. You'll have to take steps to improve your credit score first and then look out for a refinance. Apart from this, your property should have some equity in it in order to qualify for a refinance. Do you've equity in the property?
If you're looking for a conventional mortgage to refinance the loan, you would require a credit score of 700-720. In case of a FHA refinance, you should have a credit score of 620 at least. You'll have to take steps to improve your credit score first and then look out for a refinance. Apart from this, your property should have some equity in it in order to qualify for a refinance. Do you've equity in the property?