"Bringing Value Back To Mobile Home Loans"
 
Mobile & Manufactured Home Loan Guidelines

Each Mobile home purchase loan and manufactured refinance loan is a separate unique situation. Guidelines are simply just "guidelines" Call us to explain your unique situation and we'll attempt to fit the loan around you. MobileHomeLoan.biz has knowlegable staff who are experts at mobile home financing, manufactured home refinancing, new manufactured home sales & land or park construction loans for manufactured homes.

Program Guidelines for land home(own the land) manufactured home home purchase & Refinance loans

  • Post 1976 mobile homes qualify under fannie mae manufactured housing guidelines.(see MobileHomeLoan.biz rate sheet)
  • Pre-1976 mobile home loans qualify under ValueLoans.com private financing guidelines.
  • 1960 & newer homes.
  • minimum 500 credit bureau score
  • Bankruptcy & Collections...ok
  • Post 1976 unlimited cash out up to 65% loan to value(LTV)
  • Post 1976 up to 75% LTV max cash not to exceed $50k; unlimited debt consolidation allowed with the $50K.
  • Post 1976 to 80% LTV max cash not to exceed $40K; no debt consolidation.
  • 1970 to 1976 cash out refi not to exceed 80% LTV; Cash not to exceed $40k, no debt consolidation/Minimum bureau score of 630
  • Private Money: 1960 to present; max LTV not to exceed 75%; minimum bureau score of 500 fico. (outside of California there are minimum loan sizes).
  • In some case we can withhold funds in escrow to but on a permanent foundation.
  • Wholesale broker programs available(see MobileHomeLoan.biz wholesale matrix)
  • Purchase program minimum 5% down with 620 fico; 10-15% down with 595-620 fico score; 595 to 500 fico needs 25% to 30% down payment. Below 500 fico needs 40 to 50% down payment.

 

Program Guidelines For Home Only(chattel) Loans, Including In Park, Park Coop, Leased Land & Private Land Home Only Products. 

                                                Refinance Programs:

Platinum Program

Built June 13, 1976 or newer
Fico score 700+ 
Unlimited cash to 65% LTV
25K cash out to 80% LTV
Debt consolidation allowed
Rate improve for 10 and 15 year terms

Gold Program

Built June 13, 1976 or newer
Fico scores 640-700 -
50K cash to 65% LTV $7500 cash to 80% LTV
Terms to 25 years
In some cases debt consolidation allowed
Free & Clear cash out to 50K

Preferred Program

Built June 13, 1976 or newer
Fico scores 620-640 -
$7500 cash out to 80% LTV
Terms to 20 years
Home improvement bills only
Free & Clear cash out to 50K

Standard Program

Built June 13, 1976 or newer
Fico scores 600-620 -
$7500 cash to 75% LTV
Terms to 15 years
No debt consolidation
Free & Clear cash out to 35K

Sub Prime

Built 1960 or newer(CA only)
Fico scores 599 or less -
Loans to 65% LTV unlimited cash
Terms to 20 years
Private Money chattel rates apply
No prepay penalties

Older Homes

Built 1965 – June 12, 1976
Fico Scores 640+ 
Cash to 65% LTV / max housing ratio 38%
Terms to 20 years
Debt consolidation allowed
Strong park community

                                                                   Purchase Programs:

Platinum Program

Built June 13, 1976 or newer
Fico score 700+ -
Min 5% down
Terms to 30 years
Fully Amortized loans only
No prepay penalties

Gold Program

Built June 13, 1976 or newer
Fico scores 670-700 -
Min 10% down
Terms to 20 years
Fully Amortized loans only
No prepay penalties

Preferred Program

Built June 13, 1976 or newer
Fico scores 640-670 -
Min 10-20% down
Terms to 20 years
Fully Amortized loans only
No prepay penalties

Standard Program

Built June 13, 1976 or newer
Fico scores 600-640 -
Min down 20-40%
Terms to 20 years
Fully Amortized loans only
No prepay penalties

Sub Prime

Built 1960 or newer
Fico scores 599 or less -
Min down 30-50% to be considered
Terms to 20 years
Fully Amortized loans only
No prepay penalties

Older Homes

Built 1970 – June 12, 1976
Fico Scores 650+ -
Min 15% down
Terms to 15 years
Fully Amortized loans only
No prepay penalties

We also have Buy for Loans (Non owner occupied), Co sign loans, Second home loans with a min of 20% down with good credit.

Homes built prior to 1970 may be considered if:
Multi section
Min fico score 640 -
Min 20% down payment
Preferred communities (5 star)

* In the State of California, there may be out of pocket fees for the appraisal.

Things You'll Need to Qualify

  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 2005 & 2006
  4. 2 months of bank statements (all pages)
  5. Copy of most current asset statements (IRA, Stocks, 401K, ect.)
  6. Park Address and contact phone number
  7. Copy of current mortgage statement or copy of coupon
  8. Disability, Retirement & SS 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

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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                           Bringing Value Back To Manufactured Lending!
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                LoanJunction.com            MobileHomeLoan.biz        USAParkLoans.com
                   The Manufactured Lending            Where Mobile Home Loans are       Focusing On America's In Park
                     Pioneer Who Began It All.                       Our Only Business!              Manufactured Home Financing!

                      I-MobileHomeLoans.com                 GreatMobileHomeLoans.com
                   The internet one stop shop for all that                   The Name Says It All. Nothing But Great
                         is Manufactured Finance & Refinance.                    Manufactured Home Loans Nationwide.

           BadCreditJunction.com      EZMobileHomeLoan.com     NewHomeJunction.com
            Offering 2nd chance mobile home        America's easiest mobile home     Providing new manufactured factory
            loans to troubled credit borrowers                  loans...guaranteed!                 homes and realtor listing services. 

                                  E-MobileHome.com                      Chattelloan.com
                           When it comes to mobile homes and                   Offering low rate & low fee                         
                                    mobile home loans we won't be beat.                 loans on moveable property.
              
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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.