Cash out refinance on paid off mobile home and land

Grand Rapids, MichiganWantProfessionalsLender

Cash out refinance on paid off mobile home and land

Member since 2025 · 3 posts · 0 votes

I own a mobile home investment property on its own land and its outright paid for and im looking for lenders that will let me cash out refinance it. I believe the home is worth around 100k and im looking for 75k.

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Jason WrayPro Member
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
11mo
Devin,
You can pull cash out of a Mobile home as long a it meets the standard guidelines. It' easy to do this on a Primary Home or Vacation Home, but invetment is much tougher due to loan size. You have something called "High Cost" that can interfere with the loan and ability to charge fee usually is a 3% rule.
It's easier the more cash you take out or above $75K and again primmary or vacation home. If you need any tips or need to talk about what is required to meet guide lines feel free to reach out or check out my profile.
[email protected]727-637-4289
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Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
10mo
Quote from @Devin Babcock:

I own a mobile home investment property on its own land and its outright paid for and im looking for lenders that will let me cash out refinance it. I believe the home is worth around 100k and im looking for 75k.

This will be tough because of the loan size. Have you tried a local bank?
[email protected]818-269-7983
LuxePrivate Investments LLC 570 Reviews
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Simmy AhluwaliaPro Member
Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
10mo
@Devin Babcock - what's the location? Might be able to help at 50% LTV. Reach out with details.
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