refinancing

[Aimee]

I purchased a 16x80 palm harbor home on 10 acres of land, at a hight rate of 13.10% I was told that if I paid that rate for 1 year I would be able to refinance at a lower rate. WRONG!! no one will refinance my home because it is a single wide home, I have tried everywhere, my credit checks out, its just that is is a single wide. any suggestions at this point, no one would want to pay 13.10% when loan % are down to 5-6% thank you aimee ps can I trade my single wide in for a double wide and put that on my land to get a lower rate.

[rmurray]

There is no restriction that requires a mortgage company to only finance multi section homes...but..most do have their own rules..

I would suggest you talk to the lender you are currently with...

I would also suggest that you check out the lenders on this site..They are lenders that specialize in manufactured homes...there might be a few here that can help...

Beside a single section...you may have another problem...Many lenders are limited to 5 acre maximum home-site for appraisal purposes..That means you might very well have an appraisal problem if you do find a lender...

I am sorry you were lied to..

[Aimee]

Thank you for your response, and I have already come across lenders only wanting to do 5 acres, I guess I am stuck, can you trade in your mobile home for a double wide?

[rmurray]

Yes...but one this new would lose soooooooo much money...I think you need to keep trying lenders....