Now that you have decided to finance or refinance your mobile home loan, you will fall into one of these 4 catagories:
Your Mobile Home Is On Land That You Own or are making payments to own. These transactions are known as fee simple Land/Home manufactured home financing. In some cases, in some parks, the "space" or land the home sits on is being purchased by the homeowner.
Your Mobile Home Is In A Park & You Rent Or Lease The Space. These transactions are known as "Chattel" Loans(renting space) or Leasehold loans(leasing the land or space).
Your Mobile Home Is In A Coop Park, also known as "cooperative associations" or "corporations". With a coop you usually own a portion of the land or park. For example: If there are 200 units, you may own 1/200th of the land. With a Coop the homeowner usually pays only an H.O.A. fee.
Your Mobile Home Is On Private Land. For all intents & purposes these are "chattel" loans as well. Examples of these transactions can range from mobile homes on a farm (land & home are separately financed), mobile homes on a family members land or mobile homes on a corporate lot or industrial property.
Program #1
Purchase programs
We offer up to 100% financing towards the purchase of a pre-owned home.
With terms as short as seven years or as long as thirty.
We offer gifted down paymnents as well payments made in lieu of the down.
Closing costs can be included in the loan.
Minimum loan amounts of $10,000
Program #2
Monthly Payment Savings
Lower your monthly payment without extending the length of your existing loan.
You can stop paying additional interest to your current bank and put the money
back in your pocket, where it belongs
Program #3
Term Reduction
Shorten the term of your loan by continuing to make the same payment you have
always made. Build equity in your home faster by having more of your payment
being applied to your balance instead of just paying interest.
Program #4
Cash-out or Debt Consolodation
You can use this program to pay off bills,
consolidate credit card debt or do home improvements.
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