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US Legal Forms
Rent
Chattel Mortgage on Mobile Home

Chattel Mortgage Form With 2 Points In Hillsborough

Category:

Loans and Lending - Chattel Mortgages

State:

Multi-State

County:

Hillsborough

Control #:

US-0007BG

Format:

Word;

Rich Text

Instant download

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Description

A chattel mortgage is a term used to describe a loan arrangement in which an item of movable personal property is used as security for the loan.

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FAQ

What credit score do you need for a chattel mortgage?

Current interest rates Type of loanAverage ratesTypical minimum credit score FHA 6.45% 500 Fannie Mae Varies 620 Freddie Mac Varies 620 Chattel Starting at 8% 5751 more row •

What is the difference between a package mortgage and a chattel mortgage?

The traditional mortgage is only for stationary property. It's suited for long-term real estate investments. Chattel loans are for property that can be easily moved. They're also an option for borrowers who want their loans approved faster and with shorter repayment times.