Is 30 Years too long a term for a Manufactured/Mobile Home ONLY (Chattel) Loan?
There are companies who will finance a loan for chattel for as many as 30 years, however we feel it is not in the customer’s best interest because the ability to later refinance and take equity out of the home would find little of the principal balance paid down, and the home would not have enough value for cash taken out for possible debt consolidation or home improvements. We’ve helped so many customers shorten their loan terms (remaining length of loan) because they realize they are paying much more interest than principal on a long term loan. We can show astonishing interest savings, which is real cash savings long term that can be put to a better use. Many will put their savings toward other goals, be it tuition, vacations, retirement planning and more. Earth Works Trust is here to help, whether you are seeking a low, fixed rate loan for your existing principal balance or to consolidate debt by taking equity from the home. To see the most equity from the home, beginning with a 20
Related Questions
- Im interested in the FHA loan for a manufactured home, but I don know whether I am allowed to buy for a unit on my own land or in a mobile home park?
- Is a loan secured by a manufactured home (mobile home) covered transaction under RESPA?
- Is 30 Years too long a term for a Manufactured/Mobile Home ONLY (Chattel) Loan?
