cash out refi & move

[Vanessa]

I have a 1996 Palm Harbor doublewide. It is not attached to the land that it is currently located on. We have recently purchased 5 acres and would like to see if we could move the home onto the 5 acre tract. We are currently living in a "not so great neighborhood". I was wanting to try and refi the home & do a cash out refi to help pay for the move of the home, septic, water hook up, etc... The mobile home movers gave me an estimate of $4,000.00, the water hook up is approximately. $2,000.00. The 5 acre tract is only about 1 mile from the current location. We purchased the home new & have been making the all the payments on time & we paid about $53,000.00, the payoff is about $43,000.00. Our credit is not wonderful, but we have never had a repo or foreclosure, or filed bankruptcy. I am wondering if anyone knows of ANY lenders that would do something like this?
Thank You, Vanessa

[rmurray]

There is not likely any programs available for a cash out home only loan...

But...you should be able to find a mortgage originator who is familiar with manufactured homes who can help you...This would finance both the home and land as one..setting the home permanently and financing all improvements into the loan...To do this..you will have to qualify for the permanent loan..then close a construction loan...move the home..have it inspected..close the final loan..

I would call a few local dealers for referrals to good knowledgeable originators who might be willing to help....

By the way..your moving costs sound way too low...You should expect costs associated with land developement...footers...new underpinning..moving the a/c..electrical hook up...septic or sewer...and quality moving...this would run much more money than you have listed..

Good Luck