Today's Interest Rates?

[Kathy Klein]

Does anyone know what the current interest rate is on a pre-owned 1999 single-section manufactured home? We are looking at one for sale right now from an individual that's asking $29,000 and we have $14,000 cash to put down. I'm trying to calculate our monthly mortgage payment but have NO idea what to expect to pay for what we'll be charged for our interest rate? ANY ideas anyone?

[rmurray]

This could very a lot...with this large of downpayment and decent credit..you might find a local bank or credit union to be able to serve you at a very good rate..

Of course..payment has more to do with term...The very best rates from a local bank might restrict the term to 5 to 7 years..

How much of a payment are you looking for?

[Mary]

The interest rate on a used home is normally higher than on a new home. It has to do with your credit history, down payment as well a todays market rate. $29,000. for a singlewide is quite high for a 1999,unless it is really got alot of upgrades in it.