"Bringing Value Back To Mobile Home Loans"
 
Manufactured & Mobile Home Loans With Low Closing Cost

We are direct; Our mobile home loans are wholesale and we believe that long term relationships are built with value pricing & customer service.

What are closing costs?

Closing costs are those fees that need to be paid by buyer or seller during the course of the transaction or at the time of closing the transaction (close of escrow). Buyer and seller, each has their own closing costs.

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How to determine, who pays for which closing costs?

Who pays for which closing costs is mainly determined by what is in the purchase contract, which in tern depends on what is customary in an area, as well as the negotiations between buyer & seller. The amounts of the closing costs to be paid depend on the fees charged by various service providers involved in the transaction, presence & amounts of transfer taxes, etc.

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What are Nonrecurring Closing Costs?

Nonrecurring closing costs are those closing costs that are one-time fees, occurring at the time of close of escrow (closing). Examples of nonrecurring closing costs are credit report fees, termite inspection fees, home warranty fee, appraisal fee, title insurance, loan points, etc.

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What is proration?

Proration is the process by which expenses related to a property are prorated (divided) between the buyer and seller as of the date of close of escrow (closing). For example, based on the date of close of escrow (closing), the property taxes are prorated, where the seller is responsible for the period when seller was the owner and buyer is held responsible for the period beginning with the close of escrow. If seller has paid property taxes for a period that extends beyond close of escrow, a reimbursement from buyer to seller is arranged through escrow.

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What is an Impound account?

An impound account is an account set up by a lender for payment of property taxes, hazard insurance and other recurring expenses such as mortgage insurance and flood insurance. An impound account is also known as an escrow account (different from escrow).

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What are the typical contents of an impound account?

Typically, an impound account has following prepaid recurring costs: Hazard insurance premium for 2 months, mortgage insurance premium for 2 months (if applicable), flood insurance premium for 2 months (if applicable) and property taxes for 6 months.

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Do all loans require that an impound account be set?

Not necessarily! Usually loans with low loan-to-value ratio (higher down payment) do not have an impound account requirement. Also, in some cases the requirement of having an impound account is waived in return for additional closing costs charged up-front.

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What is Hud-1 or Uniform Settlement Statement?

HUD-1 is a document, usually prepared by the escrow holder or lender, that gives a detailed breakdown of the final closing costs paid by the buyer & seller.

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What is RESPA?

RESPA is a federal regulation that requires lenders to provide borrower a good faith estimate of closing costs within three business days from the time the borrower applied for the loan. RESPA also requires lenders to provide borrowers HUD-1 (a detailed breakdown of the final closing costs paid) at closing.

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Standard Mobile Home Loan Closing Costs

Loan-Related Costs

  • Loan Origination Fee(if applicable)
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes

  • Property Taxes (or HCD fees if in park)
  • Transfer Taxes and Recording Fees

Insurance

  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance 

           

Automated Mobile Home Loan 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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                         is Manufactured Finance & Refinance.                    Manufactured Home Loans Nationwide.

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            Offering 2nd chance mobile home        America's easiest mobile home     Providing new manufactured factory
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                                  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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