Q:

What are some typical mortgage rates for mobile homes?

A:

Quick Answer

As of July 7, 2015, typical mortgage rates for single- and double-wide mobile homes are about 5.50 percent for a fixed rate, 10-year mortgage with a 30 percent down payment, according to First Shore Federal. A fixed rate 25-year mortgage with a 10 percent down payment is about 7.50 percent.

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Full Answer

The interest rate for a 10-year mortgage with 10 percent down is about 6.25 percent, and with 20 percent down, the rate is 5.75 percent, notes First Shore Federal. For 15-year mortgages with a 10 percent down payment, the annual rate is about 6.50 percent. With a 20 percent down payment, the rate is about 6 percent, and paying 30 percent down reduces the rate to about 5.50 percent. For 20-year mortgages with a 10 percent down payment, the rate is about 7 percent. Paying 20 percent down lowers the rate to 6.50 percent, and a 30 percent down payment reduces the rate to 5.75 percent.

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