Mortgage Rate Update 8/27/2009

[archery288]

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[boneaddict]

I looked into it with mortgage hunter when they were at their lowest, but at that point no lender was dealing with a manufactured home, even a triple wide, no matter how stellar my credit score was. I am at 5.6 already, so probably not worth diving into it huh?

[archery288]

That's not a bad rate compared to others Bone.. How long of a term were you looking at?

[boneaddict]

I'm 30 year fixed and figure thats what I would go after again.  The goal was to reduce monthly burden.

[bow4elk]

Just my opinion on the matter, but anyone who wants to stay in their home and wants to pay it off should absolutely move into a 15 or 30 year fixed rate mortage (depending on how much they owe, length of time in the home).  ARMs are good only for those who have a high probability of selling the home inside the window of the fixed rate.

Bone, do you have VA benefits?  Not sure how VA loans apply to manufactured homes.  I was going to use my VA benefits for my first home but decided not to.  Never bothered after that.