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The Premiere Resource For

Mobile Home Refinancing

Mobile Home Refinancing Program Highlights

  • Cash out options
  • Low interest rates
  • Lower your payments
  • Get up to 95% loan-to-value ratio
  • Build equity faster
  • Owner contract options
  • Flexible terms
  • Closing cost financed
  • No maximum loan amounts
  • No seasoning requirement
  • No mortgage insurance requirement
About M H Loans
Toll-Free 888-809-1145

What criteria do lenders use when approving a loan?


Lenders weigh your housing expenses and total debt against your monthly income to determine your ability to repay a loan. You must prove that you have the cash available for the down payment and closing costs by verifying funds from sources such as bank accounts, stocks, bonds, mutual funds, sale of an existing home, or gifts from family members.


To determine your credit risk, lenders look at your previous mortgage payment history, rent payment history, credit card use and installment debt payment history. If you pay your bills regularly and on time, you're demonstrating the integrity that lenders are looking for in a borrower.


When you ask for a mobile home loan, you put the manufactured home itself up for collateral. Lenders will want to know what the home is worth before funding a loan.

Why now is the time for mobile home refinancing

With more than one loan option to chose from, mobile home refinancing has never been easier.

Here are four reasons why mobile home financing is right for you:

1) To get a lower mortgage interest rate for your mobile home. Not only will this lower your monthly mobile home mortgage payment, but you'll pay less in the long run.

2) To switch from an adjustable rate to the stability of a fixed rate mobile home mortgage. Often, that fixed rate can be locked in for the life of your loan.

3) To pay off your mobile home mortgage sooner by shortening the term of your loan. Imagine being free of monthly payments!

4) To add or remove a spouse or co-applicant. These changes may also allow you to get a lower interest rate.

How does the mobile home refinance process work?

How much documentation will I need to supply?

Every situation is different. Once you're approved, you'll receive a loan approval letter with different options for you to choose from. It will also contain a list of the documents you'll need to provide.

Do I need to get a comparable appraisal when I refinance my mobile home?

We will start with a Nada value of your home. If more value is needed, we will order a comp appraisal.

What is homeowner's insurance?

Homeowner's insurance is designed to protect your home. It is also known as hazard insurance, or fire insurance. While the lender requires this coverage, you determine which insurance company will carry the policy. Under new federal regulations, homeowner's insurance premiums will be escrowed.

How does a refinance closing work?

The refinance closing will be conducted the same way that your loan was closed when you first purchased the property. Soon after your loan is approved, your loan consultant will send a list of documents you'll need to bring to the closing.

What should I know when financing my mobile home?

Don't add to your debt. If you increase your debt by financing a new car, boat, furniture or other large purchase, it could prevent you from qualifying.

What will my closing costs be?

The lender determines the fees and commissions that will be required of you at closing. Be sure to ask for a breakdown of what these costs will be.

Will I be charged points?

Not always. Some lenders pay all points. Your approval letter will have both options for you to decide which loan best meets your needs.

How long will I be guaranteed the quoted interest rate?

This is called locking in a rate. Your approval letter will state how long your rate can be locked and what is needed to lock it in.

How long will the approval take?

This varies, so get an estimate, especially if you're on a deadline.

Does the loan have a prepayment penalty?

No! We do not offer loans that are not favorable to our applicants.

mobile home financing

How do I apply for a refinance loan?

Either fill out the application online or call us directly at 888-809-1145.

Remember, your application doesn't obligate you to borrow the money.