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Mobile Home Loan Application Checklist

LoanJunction.com, MobilehomeLoan.biz & ValueLoans.com Loan Application Checklist

In general, the mobile home loan documentation you need includes:
Check for Credit Report($9.95 Refundable at Closing)
Property Information (if you already have a contract on a house)
Purchase Agreement.(mandatory on in park mobile homes)
Copy of legal description. (Width, Length, Year & Foundation Code)
If you are selling your current home, copy of listing contract.
If you have sold your current home, copy of settlement statement (HUD-1).

Income & Assets

Pay stubs for the last 30 days.
 For the past two years:
 

Names and addresses of each employer.

W-2s / 1099’s
Statements for each bank, mutual fund, and/or investment account for the last three months. (6 to 12 months if using bank statements to qualify)
Estimated value of personal property and furniture.
 If you have made any large deposits to your accounts:
 

Explanation and source for deposit.

If large deposit was a gift:
 

Signed gift letter (lender can supply).

Copy of gift check.

Copy of deposit receipt.
 If you own more than 25% of a business:
 

Corporate or partnership tax returns.
 If self-employed:
 

Tax returns for the last three years (with schedules).

Year-to-Date Profit and Loss Statement prepared by an accountant.
 If you own rental property:
 

Tax returns for the last two years and current rental agreements.
 If you are retired:
 

Pension Award Letter.
 If you receive Social Security:
 

Social Security Award Letter.
 If you are counting child support as income:
 

Copy of divorce settlement.

Copy of twelve months of cancelled child support checks.

Debts

Names, addresses, account numbers, balances and monthly payments on all current loans.
Explanation of credit report anomalies, including:
 

Late payments, credit inquiries in the last 90 days, charge-offs, collections, judgments and/or liens.

Bankruptcy filed within last seven years (bring a copy of your bankruptcy papers).

VA Loans

Copy of DD Form 214, Report of Separation.

Miscellaneous

Photo ID and proof of Social Security number.
Residence addresses for the past two years.
If applicable, a copy of your divorce decree or child support / alimony court docs
If you are not a citizen, a copy of the front and back of your green card.

 

 

Things You'll Need to Qualify For The Manufactured Home Loan

  1. Pay stubs for 1 month
  2. W2’s for 2005 and 2006(and/or 1099’s)
  3. First 2 pages of your taxes (1040’s)for 2004 & 2005( if you have proof of filing extension) or 2005 & 2006
  4. 2 months of bank statements (all pages)
  5. Copy of most current asset statements (IRA, Stocks, 401K, ect.)
  6. Name of park, park address and contact phone number
  7. Copy of current mortgage statement or copy of coupon
  8. Disability, retirement & SSI income: award letter
  9. Copy of purchase contract for home (or title if owned outright)
  10. Amount of space rent
  11. Loan program desired and amount of cash(and/or bills) desired
  12. Year of home and dimensions
  13. Copy of driver license & social security card copy
  14. Credit Report Check($9.95 Refundable at Closing)

Basically, a general rule to remember is we are building a case to the Underwriter on every loan submission. Therefore anything that makes You look good to the bank should be submitted; things like child support, Structured settlements and rental agreements for other properties are all Examples of things that make you look good to the bank. 

Mobile Home Loan Automated Quote Form

Our manufactured & mobile home loans automated quote form allows you to shop us from the comfort of your own home without speaking to an office loan coordinator or account executive yet still receive a best estimate of our rate, term and/or availability based on your unique situation. Please provide as much information as possible. Thank You for making ValueLoans.com #1.

Your Name:
Year Of Mobile Home and Whether it is a Single, Double or TripleWide?
Rate Your Credit? Poor (Lower Than 599), Fair(600-660), Good(661-699), or Excellent, (700 & Above).
Is the Home on Land, In a Park, Private Property, Leased Land, in a Coop Community or Other?
Is This a Purchase, Refinance For A Lower Interest Rate Or Cash Out / Debt Consolidation Refinance Loan?
Income Per Month And The Source: W2,s, Retirement or Self-Employed
State:
Amount You Would Like To Borrow And Value of The Home? For New Purchase Loans Include % down
Phone:
Email Address:
Getting To Know You Section:Please include anything that may help us to give an accurate quote,Including Previous BK, Additional Income, Current Lender, current rate, goals or anything unique to Your Situation.

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                                  E-MobileHome.com                      Chattelloan.com
                           When it comes to mobile homes and                   Offering low rate & low fee                         
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                     Quick is the way we process our chattel loans.             Close your in park loan in as little as 7 days
                         Ask about our on time loan guarantee.                          upon receipt of all your paperwork.