![]() Proceeds of a limited cash-out refinance mortgage may be used to: if the home and land are secured by a single lien, the lowest price at which the home and land were previously sold during that 12-month period.if the home and land are secured by separate liens, the lowest price at which the home was previously sold during that 12-month period plus the lower of the current appraised value of the land, or the lowest sales price at which the land was sold during that 12-month period (if there was such a sale).if the manufactured home was owned by the borrower for less than 12 months on the loan application date and:. ![]()
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