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Mobile or Manufactured Home Loans: A chattel loan is often used to finance a mobile, or manufactured, home that sits on a piece of land that is being purchased. The traditional mortgage can’t be ...
Title II loans cannot be used for manufactured homes on leased land in manufactured home communities or mobile home parks. Down payments on a Title II loan can go as low as 3.5 percent, and terms ...
Home improvement loan drawbacks. Home improvement loans aren’t the best option for every borrower. Factors like fees, high rates and hard credit pulls can add thousands to the overall cost of ...
Before you decide to work with a hard money lender, consider the pros and cons of this financing option: Pros of hard money loans. Flexible loan terms: Hard money lenders tend to be flexible when ...
Cons. Maximum amount depends on your home equity. Your home is used as collateral. Lenders typically require a credit score of 620. The bottom line
Personal loan fees and penalties can drive up the cost of borrowing. Some loans have origination fees of 1 percent to 12 percent of the loan amount. The fees, which cover loan processing, can ...
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