Posted on: 29th Nov, 2009 01:20 am
my husband and i own a 16x80 2006 fleetwood mobile home. it sits on 3 acres with a 24x30 garage. we are looking to refinance in hopes of paying off quicker with a fixed interest rate. our interest rate now is 7%arm. do you think you could do any better than this?
7% is pretty good - the best I can see is a 6.5% fixed interest rate with an FHA-insured mortgage. How high can the ARM go up to? And how long will it be at 7%?
7% is pretty good - the best I can see is a 6.5% fixed interest rate with an FHA-insured mortgage. How high can the ARM go up to? And how long will it be at 7%?
If your 62 yrs or older you could use an FHA reverse mortgage to get a 5.56% fixed rate for your manufactured/mobile home depending on the state your in.