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| Did you try our loan calculator? Just click on the LOAN CALCULATOR link to estimate your manufactured home loans, mobile home loans, refinance or finance mortgage payment. If your home is situated on land and tied by way of deed or mortgage, please remember that there are real estate taxes and insurance to be considered in addition. A chattel mortgage, also called a manufactured/mobile home ONLY mortgage, will only have monthly insurance and lot rent. The lot rent is considered as part of the borrower's debt load. Please note that the automatic rate in our calculator is a default rate of 5.5%, which typically applies to brick and mortar homes. Manufactured and mobile homes as an industry standard are always just a bit higher. Manufactured and mobile homes on owned land are considered real estate and are quite comparable though in interest rates. Manufactured/mobile homes in mobile home parks, leased property or family land will start a bit higher than real estate. Again, this is typical of the entire lending industry for manufactured home loans and mobile home loans. Rates vary depending on the type of loan you are seeking, be it a manufactured or mobile home loan in a park or a manufactured/mobile home on land. Also, the shorter the life of the loan the lower the interest rate. Our lenders rates are always fixed, never adjustable, and there is never a prepayment penalty. We know you can choose other loan professionals, but we "Go the Extra Mile" to assure excellence! That's our promise! Thank you for choosing Earth Works Trust! |
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