Home Loan Servicing Daily BLOG

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VA Loan Information on Manufactured Homes

WHAT IS A VA-GUARANTEED MANUFACTURED HOME LOAN?

WHO IS ELIGIBLE FOR A MANUFACTURED HOME LOAN?

HOW IS ELIGIBILITY DETERMINED?

WHAT ARE THE REQUIREMENTS FOR LOAN APPROVAL?

• You must be an eligible veteran who has available home loan entitlement;
• The loan must be for an eligible purpose;
• You must occupy or intend to occupy the property as your home within a reasonable period of time after closing the loan;
• You must have enough income to meet the payments on the loan, cover the costs of owning a home, take care of other obligations and expenses, and still have enough income left over for family support (a spouse's income is considered in the same manner as the veteran's); and
• You must have a good credit record.

WHAT IS THE MAXIMUM AMOUNT A VETERAN MAY BORROW?

• 95 percent of the purchase price of the property securing the loan, plus the VA funding fee, or
• Determination of the manufacturer's invoice cost, plus or minus the cost of any items added or removed by the dealer, plus certain other costs (up to certain maximums), plus the VA funding fee.
• The maximum loan amount for a used manufactured home or a lot and/or necessary site preparation is determined by appraisal.

Manufactured homes are built as dwelling units with a permanent chassis to assure a transportability of the home. They can be transported to the site by professional movers.

All manufactured homes must contain a manufacturer's certification --red label-- that the home is built in accordance with HUD's construction and safety standards. This standards regulate manufactured home design and construction, strength and durability, fire resistance, and energy efficiency.

Manufactured homes are available from the retailer, or a manufactured home supply office.

Most manufactured homes are placed on individually owned property. If you plan to place the manufactured home on land you own, it is recommended to check local regulations and restrictions before you buy.

You may want to place your home in the manufactured home community. There many such communities in the U.S. Finding quality community isn't easy. Find out exactly what is included in your rent and what rules and regulations are in the community. According to the American Housing Survey data the median monthly mobile home park fee averages $53.

The retail sales center where you buy your home can provide information on financing. You also have the option of shopping for your own financing. If you are buying the home and the land together, or plan to place the home on land you already own, some financial institutions offer traditional real estate mortgages with similar interest rates

Mobile Manufactured Home Loan Program

This program is now available to assist Connecticut residents who are looking to purchase a mobile manufactured home located in one of Connecticut’s state-licensed mobile home parks. At total of $2 million in funding is available for this program to qualified borrowers.

Eligible Borrowers:

Eligible borrowers are first-time buyers (or prior homeowners who have not owned a home in the past 3 years) and must meet regular guidelines under CHFA’s Homebuyer Mortgage Programs.

A Program Criteria Worksheet will be used to determine eligibility for the Program. This form must be completed by the prospective borrower prior to submitting a formal application. Applications for loans from prospective borrowers will be accepted by CHFA until the allocation of funds in the amount of $2 million is exhausted.

Terms and Conditions:

• CHFA will provide loans for mobile home purchase in a state-licensed mobile home park;
• The mobile home can be either single or double wide;
• The term of the mortgage will be either a 15-year term with the option of 30-year term if the mobile home appraises for that term;
• CHFA will only loan up to 70% of the appraised value of the mobile home, or up to 70% of the purchase price of the mobile home, whichever is less;
• Borrowers must enter into a lease agreement for the lot for a term of not less than one year, and providing for renewals to cover the whole term of the loan;
• Borrowers must enter into a Lessor’s Agreement (CHFA’s form) which, among other things, provides a consent to the collateral assignment of the lease and all renewals from the borrower(s) to CHFA, and allows CHFA to cure defaults by the borrower(s) under the lease and to exercise renewals of the lease if borrower(s) fails to do so, and provides other rights and provisions in favor of CHFA;
• Mobile Manufactured Home Loan Program Interest rate will be 50 basis points above the CHFA Homebuyer Program Rate;
• CHFA will not finance the purchase of mobile homes manufactured prior to 1976;
• Wheels, axles, and hitches must be removed and home must be affixed to a permanent foundation;
• These loans are subject to customary origination fees and closing costs;
• Borrowers will be required to retain the services of an attorney and will be responsible for paying their fees;
• Funds for Hazard Insurance, Real Estate Taxes, and Monthly Land Lease will be held in escrow;
• Application and loan closing process will take place at CHFA’s offices, 999 West Street, Rocky Hill, Connecticut;
• The Connecticut Housing Investment Fund (CHIF) will service the loan on behalf of CHFA. You will be given information at closing regarding when and where to send your monthly mortgage payment.

Contact Information:

Single Family Underwriting
(860) 571-3502
e-mail: singlefamilyunderwriting@chfa.org

Manufactured Home Loans to Veterans
Questions and Answers on Manufactured Home Loans for Veterans
VA Pamphlet 26-71-01, Revised February 1993

The questions and answers included in this pamphlet are intended to cover major items of interest to veterans interested in buying a manufactured (mobile) home. The questions do not cover all possible situations involved in financing the purchase of manufactured homes. Full information about such situations may be obtained from VA regional offices at 1-800-827-1000.

What is a VA-Guaranteed Manufactured Home Loan?

VA-guaranteed manufactured home loans are made by private lenders such as finance companies. The guaranty means that VA will protect the lender against loss if the veteran or a later owner fails to repay the loan. The amount VA will guarantee is 40 percent of the loan amount or the veteran's available entitlement, up to a maximum amount of $20,000. The guaranty amount is not the same as the amount a veteran can borrow (see question concerning loan amounts).

Who is Eligible for a Manufactured Home Loan?

All veterans with sufficient qualifying service subsequent to September 15, 1940, including service in the Selective Reserve, and active duty service personnel who have served continuously for at least 90 days are eligible for manufactured home loans. When an ending date is set for the Persian Gulf War, those who enter on active duty after that date must complete more than 180 days of continuous active duty. Additional details are contained in VA Form 26-1880, Request for Certificate of Eligibility for VA Home Loan Benefits; VA Pamphlet 26-4, VA-Guaranteed Home Loans for Veterans; or may be obtained by contacting the nearest VA regional office or center.

How is Eligibility Determined?

A veteran may request a Certificate of Eligibility from the nearest VA regional office. This request should be made on VA Form 26-1880, Request for Certificate of Eligibility for VA Home Loan Benefits, and accompanied by the discharge or separation papers (DD Form 214), or evidence of current active duty status.

What are the Requirements for Loan Approval?

To obtain a VA loan, the law requires that:

• You must be an eligible veteran who has available home loan entitlement;
• The loan must be for an eligible purpose;
• You must occupy or intend to occupy the property as your home within a reasonable period of time after closing the loan;
• You must have enough income to meet the payments on the loan, cover the costs of owning a home, take care of other obligations and expenses, and still have enough income left over for family support (a spouse's income is considered in the same manner as the veteran's); and
• You must have a good credit record.

What is the Maximum Amount a Veteran May Borrow?

The maximum loan amount for a new manufactured home is the lesser of the following:

• 95 percent of the purchase price of the property securing the loan, plus the VA funding fee, or
• Determination of the manufacturer's invoice cost, plus or minus the cost of any items added or removed by the dealer, plus certain other costs (up to certain maximums), plus the VA funding fee.
• The maximum loan amount for a used manufactured home or a lot and/or necessary site preparation is determined by appraisal.
• Additional information on maximum loan amounts may be obtained from the nearest VA regional office or center.

What are the Loan Repayment Terms?

The maximum terms for manufactured home loans are: 20 years and 32 days for a single-wide unit or a combination single-wide unit and lot; 23 years and 32 days for a double-wide unit only; 25 years and 32 days for a double-wide unit and lot; and 15 years and 32 days for a lot only on which to place a manufactured home you already own.

What is a Manufactured Home for VA Loan Purposes?

A manufactured home is built on a permanent frame and is made to be moved in one or more sections. It must be built to be lived in year round by a single family and there must be permanent eating, cooking, sleeping and sanitary facilities. A single-wide manufactured (mobile) home must be at least 10 feet wide, with a minimum floor area of 400 square feet; double-wide units must be at least 20 feet wide, with at least 700 square feet of floor space.

A modular home is not the same as a manufactured home for VA purposes. Although the parts or sections of a modular home are built in the factory and then moved to the building site, the home must still be put up and completed at the building site. You may, however, obtain a loan to purchase a modular home under VA's regular home loan program. (See VA Pamphlet 26-4, for information about that loan program.)

What Types of VA Manufactured Home Loans are Available?

You may use a VA-guaranteed loan to:

• Buy a manufactured home and/or lot
• Buy and improve a lot on which to place a manufactured home you already own and occupy.
• Refinance a manufactured home loan in order to buy a lot.
• Refinance an existing VA manufactured home loan to reduce the interest rate.

Where Must a Manufactured Home be Located?

Any rental site, or lot owned or to be purchased by the veteran which has been approved by VA.

What Factors Should be Considered in Choosing a Site?

If you are placing a manufactured home on land you are buying or already own, consider how far away the utilities are and the cost of hookup. If service from a public or community water or sewage system is not available, find out if the ground water and subsoil conditions are satisfactory for an individual well and/or sewage disposal system.

If you are buying a manufactured home that will be placed in a park, find out about the rental cost, miscellaneous services, and other rules and requirements established by the owner of the park.

Remember, if you want to move your home at a later date, you will need a professional mover and the costs involved will be expensive.

How Does a Veteran Go About Getting a Loan?

You should:

• Get a Certificate of Eligibility from the nearest VA regional office or center if you have not already received one from VA.
• Find a manufactured home which meets VA standards.
• Arrange for rental or purchase of a manufactured home lot.
• Arrange a VA loan through the dealer or apply directly to a lender for a VA loan.

What is the Interest Rate?

The rate depends on market conditions. VA does not set the interest rate.

Can the Interest Rate be Changed?

Once a loan is made, the interest rage generally remains the same for the life of the loan. However, if interest rates on manufactured home loans go down, a veteran who still owns a manufactured home obtained with a previous VA loan may apply to a lender for a new VA loan to refinance the first loan at a lower interest rate.

Is a VA-Guaranteed Loan a Gift?

No. It must be repaid, just as you must repay any money you borrow. If you fail to make the payments you agree to make, you may lose your home through foreclosure, and you and your family would probably lose all the time and money you had invested in it. In addition, if the lender takes a loss, VA must pay the guaranty to the lender, and you will be required to repay the amount paid by VA.

If a Manufactured Home is Sold, Can the VA Loan be Assumed?

Yes. However, for loans made after March 1, 1988, the veteran is required to apply to the holder of the loan for approval of the assumption and release from liability. If the loan was obtained prior to that date, it may be assumed without the approval of the loan holder or VA, but the veteran will usually remain liable on the loan unless he or she applies to VA for a release from liability and VA grants the release in writing.

Will a Release of Liability Restore the Entitlement the Veteran Originally Used in Getting the Loan?

No. To have entitlement restored, the veteran must dispose of the manufactured home and/or lot and the loan must either be paid in full or assumed by a qualified veteran-transferee who agrees to substitute his/her entitlement for that used originally by the selling veteran. Restoration or substitution of entitlement is not automatic. You must apply for restoration of entitlement by completing and returning VA Form 26-1880 to any VA regional office or center. Applications for substitution of entitlement must be requested from the VA office that guaranteed the loan.

How Can a Veteran Get a Release From Liability From VA?

The veteran will be released from liability on the VA loan if you lender or VA determines that the loan is current and the purchaser of the property is able to make the payments, and assumes full liability on the loan and all the veteran's obligations regarding the loan. For loans closed prior to March 1, 1988, the application forms for a release from liability must be requested from the VA office that guaranteed the loan. For loans closed on or after March 1, 1988, the application forms must be requested from the lender to whom the payments are made.

Can a Veteran Get More Than One VA Manufactured Home Loan?

Yes, if you qualify for restoration of entitlement, or you have enough entitlement left to buy another manufactured home and you have disposed of the previous manufactured home.

Compensation and Pension | GI Bill | Vocational Rehabilitation | Home Loans | Life Insurance
Regional Office Homepages | Manuals & Regulations | Reports & Surveys
Survivors' Benefits | If You Owe VA Money
GovBenefits.gov | USA Services

• Fixed Rate
  This is a interest rate that never fluctuates. This also makes your payments the same without any change during the term of your loan.
• Adjustable Rate Mortgage (ARM)
  On an adjustable rate mortgage, the time between changes in the interest rate and/or monthly payment, typically one, three or five years, depending on the index. Most ARM loans have a cap of 6% increase over the life of the loan. This can be very dangerous to a borrower with a fixed income since their payment can raise $30, $50, and even $100.00 a month over the life of the loan.
• Amortization
  Means loan payment by equal periodic payment calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.
• Annual Percentage Rate (APR)
  This is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account points and other financing costs. By shopping the best APR does not mean you have the best rate. Your quoted fixed rate is the best way to shop for a loan.
• Appraisal
  An estimate of the value of property, made by a qualified professional called an "appraiser".
• Nada book out
  This is done in house by our trained staff. We will need information and pictures for you to complete this process. It is like a Kelly blue book on a car. There is no fee for this and it can be done in most cases.
• Balloon Payment
  A balloon payment is a large sum due at the end of the loan or at a set date by the lender. Refi.net does not offer loans with balloon payments.
• Assumable Loan
  There is no real assumable loan. Many advertise programs like this but your buyer must qualify and have their credit approved then go through the full loan process. Most are confused by these terms. It not as easy as letting someone take over payments and your current loan for you.
• Buy down Points
  Sometimes buying down your rate can save you money each and every month which equals thousands of dollars over the life of your loan. Standard buy down is 1 point for every 1/4 point decrease in rate. So a 1% decrease would equal 4 points financed into the loan. Be sure to ask your loan processor if this will save you money.
• Loan Fee
  Every lender charges a fee for processing your loan. This is standard in the industry.

Loan Document Q's & A's

• Power of Attorney
  This form is needed for DMV and escrow titling. A common question asked is "what other powers does it give to the lender?" None other than to title your home.
• Fixed Rate and APR different
  The fixed rate is your interest rate. The apr is the rate with all the fees included.
• Right to Cancel
  This form allows you to opt out of this contract. Every refinance by law must include this form.
• Payoff Authorization
  This form is required by every lender to payoff your current loan.
• Same Name As
  This form is needed in the case you sign your name with or without a middle initial or in the case you have changed your name i.e. marriage, etc.

Manufactured Home Financing That Leads The Industry

Factors that apply to rates — Debt to Income, Credit History, Verification of Income, and more. APR may vary. Please call if you have any questions.

Fixed Rates are all that we offer, your payments will never fluctuate.

• Auto-Monthly Payments if you desire. After your first payment return the needed paperwork to have your payments made automatically.
• No Balloon Payments on any of our loan products. You never have to worry about a deceptive buyout payment at the end of the loan. Be careful when shopping for rates!
• No Prepayment Penalties You are free to pay off your loan early, switch to another vendor or refinance at any time. Freedom without penalty!
• No Application Fees! We are confident you will find our rates and service top in the industry. We value your business.
• No Surprises throughout the process. We strive to keep you informed every step of the way.

Mobile Home Loan Program Highlights:

Low Fixed Rates
No Pre-Payment Penalties
Reduce your Monthly Payment
Shorten the Term of Your Loan
Add or Remove Spouse From Ownership of Home
Skip A Month’s Payment
5% Down Purchase Programs
Gifted Down Payments

Manufactured home purchase & refinance programs will help you:

Purchase a home at the lowest rates available
Provide a debt consolidation/cash-out loan
Lower your monthly payment
Reduce the term of your loan

..................................................................................................................................................

Program #1
Purchase programs
We offer up to 95% financing towards the purchase of a pre-owned home.
With terms as short as seven years or as long twenty-five.
We offer gifted down paymnents as well payments made in lieu of the down payment.
Closing costs can be included in the loan.
Minimum loan amounts of $20,000

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 length 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.

About Home Loan Servicing, Inc

Home Loan Servicing, Inc prides itself on being a different kind of mobile home lender. Below are some of the factors that makes us not only different but the best

• We'll move mountains for the privilege to be your lender of choice and will prove it everday.
• Ranked top tier for loan program availability.
• Highest rated customer service in the industry.
• 30 minute approvals in most cases with our automated loan underwriting system.
• Our rates are the lowest in the industry for mobile home loans and posted for your review.
• Our staff is no baloney, no pressure & no hassel.
• Subscriber to the Manufactured Housing Network ethics and standards of practice.
• Online quote system and secure online application.
• 24 hour customer support.
• Serving the manufactured housing community for over a decade.
• As low as 5% down payment purchase programs.
• Up to 80% of your manufactured homes value cash out and debt consolidation loans.
• Financing all credit types from excellent to fair to really bad credit scores.
• Financing for any year manufactured home.
• Stated income programs for the self-employed.
• Liberal loan guidelines for the rest of us.

Join Our Warm Atmosphere & Friendly Staff

Florida And Mobile Home Mortgage

Are you looking for an effective way to finance the purchase of your Florida mobile home or for refinancing one? The news has a new story everyday about the market slump and lenders going out of business. But the fact is that the interest rates are at an all time low and going lower so borrowers for Florida mobile homes can get loans at competitive rates for either a manufactured home or mobile homes.

Your position stands good if you have a good credit standing and you are on the look out for refinancing your mortgage or buying a new home. Lenders are willing to fund mortgage loans and they will give you competitive rates for your mobile home loan. With an FHA mortgage program you can still get about 97% financing even if you don’t have money for a down payment.

Guidelines are being rewritten by lenders and most go with the principles of the past. Homebuyers can get good rates of interest through the FHA or Federal Housing Authority. The FHA ensures that if a mobile home buyer or owner defaults on some payment of the mortgage, the lender is insured by the FHA for the same. This gives the best interest rates to would-be purchasers of mobile home loans.

There have been some changes in the process of mobile home purchase but lenders are aware of the regulations pertaining to mobile home loans and they will guide you properly to ensure that you get the best deal on your purchase or refinancing needs of a mobile home.

CASH OUT REFINANCING ON MANUFACTURED HOMES UP TO 95%.............NO PROBLEM!
CREDIT SCORES UNDER 600 AND OTHER CREDIT ISSUES.............................NO PROBLEM!
HOMES RECENTLY PURCHASED OR LISTED FOR SALE..................................NO PROBLEM!
97% PURCHASE LOANS ON PERMANENT MANUFACTURED HOMES.............NO PROBLEM!

Looking to finance the mobile home of your dreams? We can provide mobile home loans when most banks cannot. There are a variety of ways we can assist you.

We have powered with mobile home lenders nationwide to help get you the money you need to finance your mobile home loan, even with past bad credit problems or after bankruptcy.

Want to buy a mobile home, but are afraid of being turned down for a loan because you have too much debt? Our powerful network of mobile home lenders can help even if you have past bad credit problems. With our mobile home loans, you may be able to get the money you need to buy a mobile home and pay off debt!

Our easy online process allows you to submit your application over the Internet and get a response in 24-48 hours. It takes just a few minutes to complete. Why not get started NOW?

How good does my credit have to be?
As credit is just one aspect of your application that is considered. Other areas reviewed are your job and residential stability and your ability to pay for the loan based on your income. We work hard at getting your mobile home loan approved even with past bad credit problems or bankruptcy.

How long does the loan application process take?
The loan application process is quick and painless, generally taking 24-48 hours to get your answer.

How do we close?
Once we match you to a mobile home lender in our network, our lenders will contact you to answer any questions you may have and to get whatever is needed to close. When everything is ready, our mobile home lender will then contact you to set up a convenient time and place for closing.

For many people, financing their Manufactured Home and Lot can be overwhelming. They are concerned about hidden costs and whether they can afford to proceed. However, with Home Loan Servicing, Inc financing and guidance, most Borrowers will save money because the terms are more favorable and the transaction less costly than other lending alternatives.

WHAT TYPE OF MOBILE HOME LOAN PROGRAMS ARE AVAILABLE?

Home Loan Servicing, Inc offers a wide variety of loan programs: 10, 15, 20, 25  and 30 Year Loans; Fixed Rates, Adjustable Rates, Term Loans and more.  Home Loan Servicing, Inc also offers programs for applicants with fixed income, low income and for those that have had unfortunate credit experiences in the past. 

HOW MUCH CAN I BORROW? WILL I NEED A DOWN PAYMENT? You may borrow up to 95% of the purchase price or appraised value of your home and lot and up to 90% if you want to consolidate debt or need cash out for other items(if your State Law allows).  In many cases, you may include closing costs in your loan.  If you currently own your home or lot, Home Loan Servicing, Inc will allow your equity to cover down payment and closing cost requirements.  DO I HAVE TO HAVE A PERMANENT FOUNDATION ON MY MOBILE HOME? NO!! Home Loan Servicing, Inc  does not require you to pay for an expensive Permanent Foundation System.  DO I HAVE TO OCCUPY THE HOME TO QUALIFY FOR THE LOAN? No, Home Loan Servicing, Inc offers loans for Owner Occupied residents, Second Homes and Rentals. Also, if you don't qualify on your own, on many loan programs Home Loan Servicing, Inc will accept a Co-Signers that do not live in the property.  HOW DIFFICULT AND LONG IS THE MOBILE HOME LOAN APPROVAL PROCESS? Home Loan Servicing, Inc uses common sense in processing your loan request. We do not "Cherry Pick" loans. With appropriate documentation, we can provide an Approval within 24 hours of receipt of the completed application subject to verifications, credit report and appraisal.  WHAT ARE THE CLOSING COSTS? Closing Costs include normal and typical costs for a residential transaction in your local area and usually include: Charges by local vendors such as Appraisers, Title Companies and Closing Agents. (The charges may vary depending upon the services contracted.) Costs to other third parties including fees for Recording, Tax Service and Flood Certification. Home Loan Servicing, Inc charges for Credit Reports, Processing and Underwriting. (If Points are required, they will vary depending on the loan program.) Other fees may apply. An Estimate of Closing Costs is forwarded to each applicant within three business days after the application is received by Home Loan Servicing, Inc HOW ARE CLOSING COSTS TO BE PAID? Credit Report Fees are paid with the loan application. Appraisal Fees are paid directly to the Appraiser at the time of the Appraisal. All other costs are usually paid at closing of the loan. Closing Costs are the responsibility of the participants in the Transaction (Buyer, Seller, etc.). Closing costs may be included in the loan amount for refinances.  WILL HOMES TITLED UNDER HCD (IN CALIFORNIA) BE SUBJECT TO PROPERTY TAXES? Yes, Homes levied under HCD license fees will be transferred to tax rolls However, under Home Loan Servicing, Inc guidance, there may be no increase in property taxes over current HCD Fees and in some cases, property taxes will be lower than HCD Fees.

For many people, financing their Manufactured Home and Lot can be overwhelming. They are concerned about hidden costs and whether they can afford to proceed. However, with Home Loan Servicing, Inc financing and guidance, most Borrowers will save money because the terms are more favorable and the transaction less costly than other lending alternatives.

WHAT TYPE OF MOBILE HOME LOAN PROGRAMS ARE AVAILABLE?

Home Loan Servicing, Inc offers a wide variety of loan programs: 10, 15, 20, 25  and 30 Year Loans; Fixed Rates, Adjustable Rates, Term Loans and more.  Home Loan Servicing, Inc also offers programs for applicants with fixed income, low income and for those that have had unfortunate credit experiences in the past. 

HOW MUCH CAN I BORROW? WILL I NEED A DOWN PAYMENT? You may borrow up to 95% of the purchase price or appraised value of your home and lot and up to 90% if you want to consolidate debt or need cash out for other items(if your State Law allows).  In many cases, you may include closing costs in your loan.  If you currently own your home or lot, Home Loan Servicing, Inc will allow your equity to cover down payment and closing cost requirements.  DO I HAVE TO HAVE A PERMANENT FOUNDATION ON MY MOBILE HOME? NO!! Home Loan Servicing, Inc  does not require you to pay for an expensive Permanent Foundation System.  DO I HAVE TO OCCUPY THE HOME TO QUALIFY FOR THE LOAN? No, Home Loan Servicing, Inc offers loans for Owner Occupied residents, Second Homes and Rentals. Also, if you don't qualify on your own, on many loan programs Home Loan Servicing, Inc will accept a Co-Signers that do not live in the property.  HOW DIFFICULT AND LONG IS THE MOBILE HOME LOAN APPROVAL PROCESS? Home Loan Servicing, Inc uses common sense in processing your loan request. We do not "Cherry Pick" loans. With appropriate documentation, we can provide an Approval within 24 hours of receipt of the completed application subject to verifications, credit report and appraisal.  WHAT ARE THE CLOSING COSTS? Closing Costs include normal and typical costs for a residential transaction in your local area and usually include: Charges by local vendors such as Appraisers, Title Companies and Closing Agents. (The charges may vary depending upon the services contracted.) Costs to other third parties including fees for Recording, Tax Service and Flood Certification. Home Loan Servicing, Inc charges for Credit Reports, Processing and Underwriting. (If Points are required, they will vary depending on the loan program.) Other fees may apply. An Estimate of Closing Costs is forwarded to each applicant within three business days after the application is received by Home Loan Servicing, Inc HOW ARE CLOSING COSTS TO BE PAID? Credit Report Fees are paid with the loan application. Appraisal Fees are paid directly to the Appraiser at the time of the Appraisal. All other costs are usually paid at closing of the loan. Closing Costs are the responsibility of the participants in the Transaction (Buyer, Seller, etc.). Closing costs may be included in the loan amount for refinances.  WILL HOMES TITLED UNDER HCD (IN CALIFORNIA) BE SUBJECT TO PROPERTY TAXES? Yes, Homes levied under HCD license fees will be transferred to tax rolls However, under Home Loan Servicing, Inc guidance, there may be no increase in property taxes over current HCD Fees and in some cases, property taxes will be lower than HCD Fees.

Mobile Home Refinance

Mobile home mortgage loans available in most states.

Use this page if you already own your manufactured home and the land that the home sits on and wish to refinance or if you will be moving a mobile home out of a park and onto a piece of land. Click Here to Apply

You Have Reached Our Retail Mobile & Manufactured Home Loan Rate Sheet. Home Loan Servicing, Inc Offers The Lowest Rates In The Country.

If You Are A Broker / Agent / Dealer Looking For Our Wholesale Rate Sheet, Matrix And Underwriting Guidelines Please Access The Link Provided Below.

Home Loan Servicing, Inc has the lowest interest rates on mobile home loans in the nation. The rates appearing below are merely rate guidelines as many factors go into each mobile home refinance & new purchase finance. Our team of loan Administrators look at many factors including, but not limited to, age of home, credit scores, credit history, park condition, rural land value, employment, assets, sale worthiness of home, size of home and client(s) ability to re-pay loan.

30 Yr Fxd. Mfg. on Land
Rate	Points	APR	Lock Days
5.980%	0.000%	6.076%	15
The APR is calculated using a loan amount of $200,000 and these typical fees.

In Park Mobile Home Loan (Chattel Loans)

In Park Mobile Home

Refinance Rates:

7.49% - 10 Year Term

7.99% - 15 Year Term

8.99% - 25 Year Term

New & Used Home

Purchase Rates

7.99% - with 20% Down                             

8.24% - with 15% Down                          

8.79% - with 10% Down                             

9.24% - with   5% Down

(we do not have rate sheets for chattel; they are consumer loans & are on case by case basis)

1. Loans for mobile homes are “consumer loans” not “real estate” loans and are treated as such by each state. There are no special programs for borrowers such as “First Time Home Owners” or “Veterans.” However, when purchasing a brand new mobile or manufactured home from a dealer, we do have a "no money down" purchase program.
   
   
2. Loan Approvals are issued in a different manner than conventional real estate. In conventional real estate a borrower is approved for a specified dollar amount and then looks for a home within those parameters. With mobile homes the borrower must first find a home and then the approval is issued for that specific home only. Therefore on a purchase we will need the purchase contract ahead of time.
   
   
3. In June 1976 HUD (Housing and Urban Development) instituted regulations for the manufacture of mobile homes. Thus, homes built June, 1976 or before are called “Pre-HUD” homes and those built after are “HUD.” Pre HUD homes have, in most cases, less value & security of a HUD home and are more difficult to lend upon. LoanJunction is one of just a handful of lenders who loans on these homes.
   
   
4. Generally, homes built 1970 or after can be financed in California & Florida whether in a park or on land, on or off a foundation. Single wide homes over 15 years old are more difficult to  be financed. Please call ahead to verify if your state is one of the participating states allowing pre-hud financing(866-29-LENDS)
   
   
5. Down payments. There are no “0” down programs(except for New Manufactured homes). Down payments are dependent on age of home and FICO score. Pre-HUD homes normally require a 20% down payment. FICO guidelines for HUD homes: 700+ = 5%, 660 to 700 = 10%, 630 to 660 = 20%, 600 to 630 = 30% or 40%, below 600 = 40%, 50% or more. These are guidelines only and can vary depending on circumstances.
   
   
6. Interest rates. In general, rates are higher than conventional real estate rates. The age of a home will often determine the rate and Pre-HUD homes carry higher rates than HUD homes. Of course, other factors, such as FICO scores and DTI will affect rates. At the present time, rates can be as low as 7.5% and as high as14-15%.
   
   
7. FICO (Fair Isaac) credit scores. We use Experian credit reporting agency and their scores can be between 450 and 850. In general, a score below 600 will disqualify a borrower, however occasionally a lower score can be approved with a large down payment and other extenuating factors. Click here for an informational PDF document explaining FICO. Please call ahead for private money funding in which equity not FICO is the determining factor(1-866-29-Lends)
   
   
8. Stated Income is designed to allow those who have income that is difficult to verify such as self-employed to qualify for a loan. Applicants are not required to prove their income but it requires a 620 plus FICO score and a minimum 10% down.
   
   
9. DTI (Debt to Income ratio). Sometimes called “Back End Ratio”, this refers to the percentage of borrowers gross monthly income required to service all contractual obligations. Normally, the maximum allowed is 45% but sometimes that can be increased with a large down and/or a high FICO. When determining the DTI always include the estimated payment for tCreated on 9/23/2005 4:01 PMhe new home plus the space rent. Example: Gross monthly income = $3000. New home payment $700, space rent $500, auto payment $450, credit cards minimum payment $300. Total contractual payments = $1950. DTI ($1950 divided by $3000) = 65%. In this case, the maximum allowed is 45% so this borrower would not qualify.
   
   
10. Combining incomes to meet the 45% DTI requirement. Although any person can be added to the loan as a Co-Applicant, in most cases only husband and wife can combine their incomes to satisfy the DTI. In certain rare instances two relatives who have established credit together over several years can combine incomes. All others must stand alone.
    
    
11. HR (Housing Ratio). Sometimes called “Front End Ratio”, this is determined by the lender and usually ranges from 30% to 35%. It is calculated by adding the new home payment to the space rent and dividing the total by gross monthly income.
    
    
12. Term. In general loans are for 15 or 20 years depending on factors such as down payment, FICO score and age of home. Occasionally, higher loan balances will qualify for a 25 year term.
    
    
13. Applications. We require no paperwork prior to obtaining an approval. The 10 minute application can be taken over the phone, faxed in or filled out online. Usually we can give you an answer in 2 to 3 working days. Applications must contain the complete home information.
    
    
14. Processing It usually takes 3 to 4 weeks after borrowers acceptance of the approval to gather the required documentation, process through escrow and then be funded by the lender. If it takes longer, or if the approval expires (45-90 days), it is almost always caused by the failure of the borrower to provide the required documentation in a timely manner.
    
    
15. Comparable Sales All sales of mobile homes in California are required to be reported to the State. The State compiles lists of these sales by Park showing first sold price, last sold price, date of sale and age and size of home. These lists are called “comps” and appraisers use this information in determining the value of a mobile home. In states where comps are not available the appraiser must rely on the “book” value of the home. The “book” is compiled by the N.A.D.A. (National Automobile Dealers Association) and is similar to the “Blue Book” for autos.
    
    
16. LTV (Loan to Value). Most loans require an appraisal and usually the bank will stipulate the LTV after reviewing the appraisal. The amount of loan approved by the bank is almost always subject to the lesser of the sales price or the appraisal including the comps report. 90% of appraised value is common.
    
    
17. Decal Number is equivalent to a license plate on a car and it is important because both the bank and the escrow company use it to search title. It can often be found on a plate attached to the front or back of the mobile home and on the Title and Registration of the home. The decal number consists of three letters and four numbers and usually starts with an “A” or “L.” Example: ARW2798 or LGB7035. In some rare cases the decal will start with “JP.”
    
    
18. Refinancing. Both Rate/Term and Cash Back (debt consolidation) require at least a 640+ FICO score. Two refinance programs are available depending on FICO score. The first will finance no more than 80% of the original purchase price. (Not the current appraised price) while the second will finance up to 65% of current appraised value. Also, in most cases, the bank won’t return cash to the borrower; they will pay third party debt only

Remember the aforementioned guidelines are merely "guidelines." Each transaction is a unique endeavor and underwriting seeks to fund every possible loan. Home Loan Servicing, Inc understands the need for appropriate financing for mobile homes and in most cases we will seek to get your client an exception when possible.

* ADDITIONAL PROGRAMS may be AVAILABLE - Please CALL for DETAILS *
* No up front application fee *
* Fast approval and funding *

Rate and Term Refinance

Every day we are amazed that manufactured land / homeowners with good jobs and and good credit are still paying 10%, 11%, 12% or more for their land home loans. Sometimes, homeowners are paying too much because their loan wasn't set up right in the first place.  Many times, it's because the land and home were not combined to qualify both as  "real estate."  This is also called "purging of title." If your home is on a permanent foundation and you still have two separate loans,  we may be able to help you combine them into one loan with a lower interest rate loan.   We can also help you lower your rate and term if you are on a high interest rate single pay mortgage. Our  "foundation retrofit" program allows you to  convert your existing "on blocks" foundation to an engineered HUD approved foundation without moving your home or disturbing you current utility hook ups.  This can increase the value of your home, allow you to qualify for better loan terms and make your home more marketable when you get ready to sell.

Cash Out Refinance

We understand the value of your manufactured home.  We also understand that you may be able to use the value in your manufactured home for improvements, debt consolidation or other situations where you need "cash out" of your home.  In most cases, we can offer 65% of the appraised value of your home as "cash out."  We are currently licensed in 30 states to offer you up to 95% of the appraised value of your home in cash.

Click Here to Contact Us

Land Home

Operating as a Home Loan Servicing, Inc , we can  provide the best manufactured land / home products in the market today. Every day, homeowners and buyers are realizing the value of combining manufactured homes and the land they own or want to buy. By combining manufactured homes, on permanent foundations on land, manufactured home owners can qualify for land / home loans at rates that are much better than "In Park" loans and usually with with tax advantages.

We can help  you with a purchase money loan for a manufactured home and land.  If you already own a manufactured home on a permanent foundation, we we can help you lower your interest rate,  reduce your term or take cash out up to 95% your home's value.  If own your land or want to place a manufactured home on land, we have a nine month construction loan program designed specially for you.  We often find homeowners with homes already on land with foundations that don't qualify as permanent. Our retrofit program offers a conversion option that allows the manufactured home foundation to be retrofitted to a HUD Code foundation qualifying them for conventional or FHA loan terms at rates that are much better than they currently have.

While our specialty is manufactured home loans, we offer a full range of stick built loan products that allow us to compete with any lender in the nation on most any loan.  Whether you need a purchase or refinance loan, a home equity loan, or a construction loan for your new home, we have a product for you.

Call us or complete any of the interactive forms on this site and one of our loan consultants will be happy to help with any of your loan needs. 1-866-29-LENDS

Purchasing or Refinancing a Home in a Park or on Leased Land

Purchasing a New or Used Manufactured Home

Every day we work with home buyers who realize the value and convenience of owning a new or used manufactured home. We offer loans for homes in parks and leased land. We can help you with a loan for as little as 5% down. Home purchase rates are based on credit score and the amount of down payment. We work directly with your seller or retailer to insure a smooth transaction. Our special programs include:

• Buy For Loans - Designed so you can help your family member with a new or used home purchase

• Loans in Parks or on Leased Land. Your land or family land is ok too.

• Risk Based Pricing - We identify the Strengths of Each Loan

• Refinancing Your Manufactured Home

We can help you refinance your manufactured home in a park or on leased land. Are you sure you have the best interest rate? We've been refinancing manufactured home loans for years. We've saved borrowers millions of dollars in needless monthly payments.

• Reduce Your Monthly Payment

• Shorten Your Loan Term and Save Thousands

• Take Cash Out Up to 80% of Your Home's Value

• Selling Your Home

Have financing available when you get ready to sell your home. Click Here to get our Free FSBO Package or have your Sales Agent give us a call.

Click Here to Contact Us

For many people, financing their Manufactured Home and Lot can be overwhelming. They are concerned about hidden costs and whether they can afford to proceed. However, with Home Loan Servicing, Inc financing and guidance, most Borrowers will save money because the terms are more favorable and the transaction less costly than other lending alternatives.

WHAT TYPE OF MOBILE HOME LOAN PROGRAMS ARE AVAILABLE?

Home Loan Servicing, Inc offers a wide variety of loan programs: 10, 15, 20, 25  and 30 Year Loans; Fixed Rates, Adjustable Rates, Term Loans and more.  Home Loan Servicing, Inc also offers programs for applicants with fixed income, low income and for those that have had unfortunate credit experiences in the past. 

HOW MUCH CAN I BORROW? WILL I NEED A DOWN PAYMENT? You may borrow up to 95% of the purchase price or appraised value of your home and lot and up to 90% if you want to consolidate debt or need cash out for other items(if your State Law allows).  In many cases, you may include closing costs in your loan.  If you currently own your home or lot, Home Loan Servicing, Inc will allow your equity to cover down payment and closing cost requirements.  DO I HAVE TO HAVE A PERMANENT FOUNDATION ON MY MOBILE HOME? NO!! Home Loan Servicing, Inc  does not require you to pay for an expensive Permanent Foundation System.  DO I HAVE TO OCCUPY THE HOME TO QUALIFY FOR THE LOAN? No, Home Loan Servicing, Inc offers loans for Owner Occupied residents, Second Homes and Rentals. Also, if you don't qualify on your own, on many loan programs Home Loan Servicing, Inc will accept a Co-Signers that do not live in the property.  HOW DIFFICULT AND LONG IS THE MOBILE HOME LOAN APPROVAL PROCESS? Home Loan Servicing, Inc uses common sense in processing your loan request. We do not "Cherry Pick" loans. With appropriate documentation, we can provide an Approval within 24 hours of receipt of the completed application subject to verifications, credit report and appraisal.  WHAT ARE THE CLOSING COSTS? Closing Costs include normal and typical costs for a residential transaction in your local area and usually include: Charges by local vendors such as Appraisers, Title Companies and Closing Agents. (The charges may vary depending upon the services contracted.) Costs to other third parties including fees for Recording, Tax Service and Flood Certification. Home Loan Servicing, Inc charges for Credit Reports, Processing and Underwriting. (If Points are required, they will vary depending on the loan program.) Other fees may apply. An Estimate of Closing Costs is forwarded to each applicant within three business days after the application is received by Home Loan Servicing, Inc HOW ARE CLOSING COSTS TO BE PAID? Credit Report Fees are paid with the loan application. Appraisal Fees are paid directly to the Appraiser at the time of the Appraisal. All other costs are usually paid at closing of the loan. Closing Costs are the responsibility of the participants in the Transaction (Buyer, Seller, etc.). Closing costs may be included in the loan amount for refinances.  WILL HOMES TITLED UNDER HCD (IN CALIFORNIA) BE SUBJECT TO PROPERTY TAXES? Yes, Homes levied under HCD license fees will be transferred to tax rolls However, under Home Loan Servicing, Inc guidance, there may be no increase in property taxes over current HCD Fees and in some cases, property taxes will be lower than HCD Fees.

  Financing for Singlewides, Doublewides and above.
  With or Without a Permanent Foundation.
  A, A-, B, C & C- Credit & Income
  VA, Conventional and Non-Conforming
  Construction and Relocation
  First Liens, Home Improvement Loans
  Fixed Rates, Adjustable Rates, Step Rates
  10 Year, 15 Year, 20 Year, 25 Year & 30 Year Terms
  Purchase, Refinance, Cashout (Where Allowed)
  High Acerage and Hobby & Gentlemen's Farms
  Home & Lot in Subdivided Mobilehome Parks
  No Income Verification
  Limited Document
  Owned Land

YOUR SOURCE FOR EVERY TYPE OF

 MANUFACTURED and MOBILE HOME LOANS!

New & Used Mobile Homes

If you're purchasing a home, think of RCU first. We offer

• Repayment terms from 60 to 180 months
• Finance up to 80% of the new purchase price
• Finance up to 80% of the appraised value if used.
• Mobile Home must be 10 years old or newer
• Must be located in a mobile home park
• Find terms and conditions here.  

If you have any questions, please call us at: (866) 29-LENDS or visit an RCU branch .

Manufactured/Mobile Home Loans

Just as all manufactured/mobile homes are not the same, neither are manufactured/mobile home loans.

Whether you own your own land or reside on leased land in a park, your loan should be customized to fit your needs and objectives.

WE CAN DO THIS FOR YOU!

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing your Manufactured/Mobile
Home Loan

Refinancing your loan is a great way to save yourself thousands of dollars and at the same time generate cash for a variety of purposes.

Just like our regular loan programs, we will customize our services to meet your needs.

Best of all, we can do this with no out of pocket expense.

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing for Debt Consolidation

By refinancing your loan, you’ll not only save thousands by acquiring a lower interest rate, we can also save you money by bringing some of your debt under one manageable
account.

Since everyone’s financial situation is different, we work with you to design a program that best suits your needs.

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing for Home Improvement

As time goes by, your housing requirements may change and you may start thinking about adding on or making improvements to your manufactured/mobile home.

We can make this an affordable reality through our refinancing programs for home additions and improvements.

For more specific information, click here to fill out our information request form.

To complete a preliminary application for a loan, click here.

Manufactured/Mobile Home Loans

Just as all manufactured/mobile homes are not the same, neither are manufactured/mobile home loans.

Whether you own your own land or reside on leased land in a park, your loan should be customized to fit your needs and objectives.

WE CAN DO THIS FOR YOU!

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing your Manufactured/Mobile
Home Loan

Refinancing your loan is a great way to save yourself thousands of dollars and at the same time generate cash for a variety of purposes.

Just like our regular loan programs, we will customize our services to meet your needs.

Best of all, we can do this with no out of pocket expense.

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing for Debt Consolidation

By refinancing your loan, you’ll not only save thousands by acquiring a lower interest rate, we can also save you money by bringing some of your debt under one manageable
account.

Since everyone’s financial situation is different, we work with you to design a program that best suits your needs.

For more information, click here to complete our information request form.

To complete a preliminary application for a loan, click here.

Refinancing for Home Improvement

As time goes by, your housing requirements may change and you may start thinking about adding on or making improvements to your manufactured/mobile home.

We can make this an affordable reality through our refinancing programs for home additions and improvements.

For more specific information, click here to fill out our information request form.

To complete a preliminary application for a loan, click here.

In Park Mobile Home
Refinance & Purchase Loan Highlights

Refinance Mobile Home Finance Programs:
(see Purchase programs below)

Platinum Refinance Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 700 or higher 
• Unlimited cash out to 65% Loan To Value
• $25,000 cash out to 80% Loan To Value
• Debt consolidation allowed
• Better rates 10 and 15 year terms

Gold Refinance Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 640 to 700
• $50,000 cash out to 65% Loan To Value
• $7,500 cash to 80% Loan To Value
• Loan terms to 25 years
• In some cases debt consolidation allowed
• Free & Clear cash out to $50,000

Preferred Refinance Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 620 to 640
• $7,500 cash out to 80% Loan To Value
• Loan terms to 20 years
• Home improvement bills only
• Free & Clear cash out to $50,000
  

Standard Refinance Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 600 to 620
• $7,500 cash to 75% Loan To Value
• Loan terms to 15 years
• No debt consolidation
• Free & Clear cash out to $35,000
  

Sub Prime Refinance Mobile Home Loan

• Built 1960 or newer (California only)
• Credit scores 599 or less
• Loans to 65% Loan To Value unlimited cash out
• Loan terms to 20 years
• Private Money chattel rates apply
• No prepayment penalties
  

Older Mobile Homes Refinance Mobile Home Loan

• Built 1965 – June 13, 1976
• Credit Scores 640 or higher 
• Cash to 65% Loan To Value / max housing ratio 38%
• Loan terms to 20 years
• Debt consolidation allowed
• Strong park community

Purchase Mobile Home Financing Programs:

Platinum Purchase Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit score 700 or higher
• Minimum 5% down
• Loan terms to 30 years
• Fully Amortized loans only
• No prepayment penalties

Gold Purchase Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 670 to 700
• Minimum 10% down
• Loan terms to 20 years
• Fully Amortized loans only
• No prepayment penalties

Preferred Purchase Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 640-670
• Minimum 10-20% down
• Loan terms to 20 years
• Fully Amortized loans only
• No prepayment penalties

Standard Purchase Mobile Home Loan Program

• Built June 13, 1976 or newer
• Credit scores 600-640
• Minimum down 20-40%
• Loan terms to 20 years
• Fully Amortized loans only
• No prepayment penalties

Sub Prime Purchase Mobile Home Loan Program

• Built 1960 or newer
• Credit scores 599 or less
• Minimum down 30-50% to be considered
• Loan terms to 20 years
• Fully Amortized loans only
• No prepayment penalties

Older Homes Purchase Mobile Home Loan Program

• Built 1970 – June 12, 1976
• Credit Scores 650+
• Minimum 15% down
• Loan terms to 15 years
• Fully Amortized loans only
• No prepayment penalties

Also available are Buy for Loans (Non owner occupied), Co signer loans, Second home loans with a min of 20% down with good credit.

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

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

With more than 10 years’ experience, we specialize in financing for mobile and manufactured homes.

We can help you with the following:

• Refinance your present home—Singlewide or Doublewide
• Add land to your current loan
• Purchase a home from an individual

We want to take the stress out of financing your home or land purchase. Our knowledgeable loan officers can help you through the financing process, and they are able to answer any questions you may have.

We offer free insurance quotes and financing for:

• Land/home combinations
• Homes in parks or specialized communities
• Purchase of land
• Credit card/bill consolidation

Call us today, request information or apply online.
For immediate assistance call us at: 1 (866) 29-LENDS

We offer:

• Fixed rates
• Skip your next payment option
• No out-of-pocket expense
• Free application with no obligation

Rates and Programs

Listed below are various terms that are used by the lending industry to describe features and conditions of loan programs. If you are unfamiliar with "Origination Fee", "Annual Percentage Rate (APR)" or "Creditworthy" as these terms are used to explain how the lender handles the loan, you may fail to recognize some of the hidden costs for the loan. When a fee is applied or the frequency with which interest is applied to the account can greatly impact the final cost of the loan. Be sure you understand every term used.

General Loan Q's & A's

Fixed Rate

This is a interest rate that never fluctuates. This also makes your payments the same without any change during the term of your loan.

Adjustable Rate Mortgage (ARM)

On an adjustable rate mortgage, the time between changes in the interest rate and/or monthly payment, typically one, three or five years, depending on the index. Most ARM loans have a cap of 6% increase over the life of the loan. This can be very dangerous to a borrower with a fixed income since their payment can raise $30, $50, and even $100.00 a month over the life of the loan.

Amortization

Means loan payment by equal periodic payment calculated to pay off the debt at the end of a fixed period, including accrued interest on the outstanding balance.

Annual Percentage Rate (APR)

This is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account points and other financing cost. By shopping the best APR does not mean you have the best rate. Your quoted fixed rate is the best way to shop for a loan.

Appraisal

An estimate of the value of property, made by a qualified professional called an "appraiser".

Nada book out

This is done in house by our trained staff. We will need information and pictures for you to complete this process. It is like a Kelly blue book on a car. There is no fee for this and it can be done in most cases.

Balloon Payment

A balloon payment is a large sum due at the end of the loan or at a set date by the lender. Refi.net does not offer loans with balloon payments.

Assumable Loan

There is no real assumable loan. Many advertise programs like this but your buyer must qualify and have their credit approved then go through the full loan process. Most are confused by these terms. It not as easy as letting someone take over payments and your current loan for you.

Buy down Points

Sometimes buying down your rate can save you money each and every month which equals thousands of dollars over the life of your loan. Standard buy down is 1 point for every 1/4 point decrease in rate. So a 1% decrease would equal 4 points financed into the loan. Be sure to ask your loan processor if this will save you money.

Loan Fee

Every lender charges a fee for processing your loan. This is standard in the industry.

Loan Document Q's & A's

Power of Attorney

This form is needed for DMV and escrow titling. A common question asked is "what other powers does it give to the lender?" None other than to title your home.

Fixed Rate and APR different

The fixed rate is your interest rate. The apr is the rate with all the fees included.

Right to Cancel

This form allows you to opt out of this contract. Every refinance by law must include this form.

Payoff Authorization

This form is required by every lender to payoff your current loan.

Same Name As

This form is needed in the case you sign your name with or without a middle initial or in the case you have changed your name i.e. marriage, etc.

Refinancing your current mortgage

Program Highlights

• Up to 95% LTV (Cash out 65% - 80% LTV)
• Build Equity Faster
• No Max Loan Amounts
• No Seasoning required
• Cash out / Debt Consolidation options
• Owner Contract options
• No mortgage insurance required
• Insurance can be financed into the loan
• Terms can be extended
• Lower rates
• Lower payments
• Up to 60 days with no payment
• Closing Cost can be financed

*NEW CALIFORNIA PROGRAMS*

• Debt Consolidation and Cash out of your equity for doublewide homes 1976 and newer
• For singlewide homes 1991 and newer
• Purchases and Refinancing for homes 1970 and newer

Debt Consolidation and Cash out of your equity

• Cash out of your equity for homes 1991 and newer

What are the reasons for refinancing?

There are many benefits to refinancing; it just depends on what your objectives are. Some of the most popular reasons are:

• To lower your monthly payments by refinancing at a lower interest rate.
• To switch from an adjustable rate to the stability of a fixed rate.
• To consolidate debt by refinancing a higher loan balance and using the cash difference to pay off credit cards, auto loans or other debts.
• To pay off the mortgage sooner by switching to a shorter term.

Call us toll-free and speak to a personal loan consultant to find out if refinancing is right for you.

How do I apply for a refinance loan?

Either fill out the application online or call us directly at 866-29-LENDS

What criteria do lenders use when approving a loan?

Lenders look at three criteria: Capacity, Credit and Collateral.

• CAPACITY
  The lender will weigh your housing expenses and total debt against your monthly income to determine your ability to repay a loan. They'll also need proof that you have the cash available for down payment and closing costs by verifying funds from sources such as bank accounts, stocks, bonds, mutual funds, sale of an existing home, or gifts from family members.
• CREDIT
  To determine your credit risk, the lender will look at previous mortgage payment history, rent payment history, credit card use and installment debt payment history. If you pay your bills regularly and on time, you're demonstrating the integrity that lenders are looking for in a borrower.
• COLLATERAL
  When you ask for a home loan, you're putting the home itself up for collateral, so the lender will want to know what the home is worth.

How much documentation will I need to supply to verify the information I provided on my application?

Every situation is different. Once you submit your loan application online you'll automatically receive a customized list of the documents you'll need to provide. If you apply over the phone, you'll receive this list within three business days.

What is Private Mortgage Insurance (PMI) and do I need it?

PMI is not need on any of our loans regardless of LTV.

Do I need to get an appraisal when I refinance?

Not always. We will attempt to get a book value for your home, if not successful we will require an appraisal.

What is homeowner's insurance?

Homeowner's insurance is designed to protect your home. It is also known as hazard insurance, or fire insurance. While the lender requires this coverage, you determine which insurance company will carry the policy. Homeowner's insurance premiums are either paid directly to the insurance agency or financed into your loan.

How does a refinance closing work?

The refinance closing will be conducted the same way that your loan was closed when you first purchased the property. Soon after your loan is approved your loan consultant will send a list of documents you'll need to bring to the closing.

What should I know when refinancing my home?

Don't add to your debt. If you increase your debt by financing a new car, boat, furniture or other large purchase, it could prevent you from qualifying.

What will my closing costs be?

Ask your lender for a general summation of the fees and commissions that will be required of you at closing.

Will I be charged points?

Sometimes a loan is only available if you pay points, so ask your lender if the loan quoted requires points.

What items must be prepaid?

Your lender should let you know what items, such as property taxes and insurance, must be paid in advance.

How long will I be guaranteed the quoted interest rate?

This is called locking in a rate. Ask your lender how long your rate can be reserved and if there's a fee involved.

How long will the approval take?

This varies, so get an estimate, especially if you're on a deadline.

Does the loan have a prepayment penalty?

If you think you may refinance or pay off the loan early, you should ask if there's a fee involved for doing so.

Planning for Home Ownership

Program Highlights

• 95% Financing (true 5% down program)
• No Max Loan Amounts
• No cash reserves required
• Gifted Down Payments
• No mortgage insurance required
• Insurance can be financed into the loan
• Terms up to 30 years
• Owner contact options
• Debt to Income Ratio up to 50%
• Fixed Rates
• Closing Cost can be financed

Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. If you dream of buying a home you came to the right place. Home Loan Servicing, Inc can make your dream of owning a home a reality. We have a simple interview that will step you through the process of determining what you may be able to afford. Once you have a good idea of how much home you can afford, it's time to start figuring out what features are the most important. It's time to ask yourself a very important question - What am I looking for in a home? Once you have zeroed in on a neighborhood, you may want to drive around and note the number and the locations of "For Sale" signs. Pick up the local newspaper to get a taste of the area. This will help you get a sense of the local housing market.

What should I know before buying a home?

Here are some tips that could save you a lot of time, money and trouble.

• Plan ahead.
  Establish good credit and save as much as you can for the down payment and closing costs.
• Set a budget and stick to it.
  We can help you determine a comfortable price range.
• Keep your day job.
  If there's a career move in your future, make the move after your loan is funded. Lenders tend to favor a stable employment history.
• Know what you really want in a home.
  How long will you live there? Is your family growing? What are the schools like? How long is your commute? Consider every angle before diving in.
• Make a reasonable offer.
  To determine a fair value on the home, ask your real estate agent for a comparative market analysis listing all the sales prices of other houses in the neighborhood.
• Choose your loan (and your lender) carefully.
  For some tips, see the question in this section about comparing loans.
• Consult with your lender before paying off debts.
  You may qualify even with your existing debt, especially if it frees up more cash for a down payment.
• Don't shift money around.
  A lender needs to verify all sources of funds. By leaving everything where it is, the process is a lot easier on everyone involved.
• Don't add to your debt.
  If you increase your debt by financing a new car, boat, furniture or other large purchase, it could prevent you from qualifying.
• Timing is everything.
  If you already own a home, you may need to sell your current home to qualify for a new one. If you're renting, simply time the move to the end of the lease.

Home Purchase FAQ’s

• How much house can I afford?
  This depends on two things: your comfort level and the lender's approval. If you're young and upwardly mobile you may feel comfortable stretching to afford a bigger home, knowing that eventually your increasing income will make the payments easier as time goes by. But if you're older or retiring soon, you may want a lower mortgage payment that won't require as much of your income. The lender, on the other hand, will be looking at your credit rating, your income and other factors to determine how large a mortgage you can support.
• What type of loan will be best for me?
  A good lender can point out other loan options you may not be aware of.
• What will my closing costs be?
  Ask your lender for a general summation of the fees and commissions that will be required of you at closing.
• Will I be charged points?
  Sometimes a loan is only available if you pay points, so ask your lender if the loan quoted requires points.
• What items must be prepaid?
  Your lender should let you know what items, such as property taxes and insurance, must be paid in advance.
• How long will I be guaranteed the quoted interest rate?
  This is called locking in a rate. Ask your lender how long your rate can be reserved and if there's a fee involved.
• How long will the approval take?
  This varies, so get an estimate, especially if you're on a deadline.
• Does the loan have a prepayment penalty?
  If you think you may refinance or pay off the loan early, you should ask if there's a fee involved for doing so.

Manufactured and Mobile Home Loans, Financing and Refinancing

Home Loan Servicing, Inc provides nationwide financing for manufactured and mobile home owners. We pride ourselves in being a full service lender, meeting your needs and exceeding your expectations. Most mortgage brokers and banks hardly even consider the unique needs of manufactured homes financing. Here at Home Loan Servicing, Inc we specialize in this industry exclusively! We're here to meet your finance needs, and we are also here to provide advice and assistance. We look forward to hearing from you.

Purchase - 5% Down
For as little as 5% down you can own a manufactured home.

Refinance - Save Money!
With top industry rates, refinancing through Home Loan Servicing, Inc can save you cash monthly.

Fixed Rates are all that we offer, your payments will never fluctuate.

Auto-Monthly Payments if you desire. After your first payment return the needed paperwork to have your payments made automatically.

No Balloon Payments on any of our loan products. You never have to worry about a deceptive buyout payment at the end of the loan. Be careful when shopping for rates!

No Prepayment Penalties You are free to pay off your loan early, switch to another vendor or refinance at any time. Freedom without penalty!

No Application Fees! We are confident you will find our rates and service top in the industry. We value your business.

No Surprises throughout the process. We strive to keep you informed every step of the way.

Our company was established  to answer the needs of in-park manufactured home owners and buyers. At Home Loan Servicing, Inc you'll find a variety of manufactured home loans to choose from. With our friendly service, and highly competitive rates you will find one that best meets your needs. Home Loan Servicing, Inc  is based on commitment, respect, maintaining integrity, and building trust in every relationship. These are the cornerstones of our corporate philosophy, and that's a real difference.

Ever wonder who writes the FAQ sections of most web sites? Why is it that most of the time the answers are to questions that you wouldn't think to ask. In this case we let our mobile home customers write the questions below. If you have others that we have not addressed here please e-mail us and we would be happy to help you get the information you need to get the lowest payment possible on your manufactured home. 

*FIXED RATE FINANCING  *NO APPLICATION FEE
*NO PRE-PAYMENT PENALTIES
*USED PURCHASES *CONSOLIDATE DEBT
*LOWER PAYMENTS

Welcome to Home Loan Servicin, Inc, your choice for mobile home loans/manufactured home loans, financing and refinancing. We specialize in 1977 or newer for multi-section manufactured homes and 1993 or newer for single wide homes. We can finance mobile homes loans/manufactured homes loans in mobile home parks, leased land or *private/family land.* *

Home Loan Servicing, Inc  is proud to offer financing nationwide *(with the exception of Alaska, Connecticut, Nevada, Maine, Massachusetts, New Hampshire, New Jersey, Rhode Island, and Vermont) and offer a wide range of loan programs that include rate reduction, term reduction, and cash out / debt consolidation.

In addition to our wide range of refinancing programs, Home Loan Servicing, Inc has many programs available for the sale and purchase of used mobile/manufactured homes, some with as little as 5% down.

Let us help you start saving money today!

*New Programs For California*

* Purchase and Refinance programs now available for multi - section homes 1970 and newer. Single wide homes 1977 and newer.

*Cash out / consolidation available for multi - section homes 1976 and newer. Single wide homes 1993 and newer.

FREQUENTLY ASKED QUESTIONS

Q: I have poor-fair credit, can Wesley Financial help me finance my mobile home?
A: Yes. Home Loan Servicing, Inc does have a program for poor to fair credit.  For more information click on our rates and programs link.

Q: Can Home Loan Servicing, Inc finance land & mobile home loans?
A: Yes. We are a home & Land lender and do not have any programs available for land or land/home combinations.

Q: My mobile home is in a park/leased land, can Home Loan Servicing, Inc help me?
A: Yes, in park or on leased land is what we specialize in.

Q: Which States can Home Loan Servicing, Inc finance a home in?
A: We are Nationwide with the exception of Connecticut, Maine, Massachusetts, Nevada, New Hampshire, New Jersey, Vermont and Rhode Island.

Q: Can Home Loan Servicing, Inc  help me finance a brand new manufactured home from a dealer?

A: Yes, the home needs to be already set up and titled for us to finance it. The dealer selling you the manufactured home should be able to provide you with  this.

Our mission is to help people across the nation obtain an affordable loan with the best programs and services available.

Our goal is to place homeowners into programs that make sense and will benefit our clients. As an industry leader, we have been able to establish great affiliate relationships with lending institutions across the country.

We have great cash out programs on fixed rate mortgages to help you consolidate debt with and a 30 year fixed program with rates in the 6% range. We even can assist homeowners to 95% of their property's value in some cases.

Home Loan Servicing, Inc is 100% dedicated to serving you and we are we are as strong as ever!

Manufactured home loans are a very unique mortgage and it takes a company that understands this market to properly serve homeowners. MHLoanpro.com and our team of professionals are experts in financing these homes

To find out how we can assist you, please call us toll free or apply online 24 hours a day with our secure online application.

We look forward to helping you!

1-866-29-LENDS Toll Free Monday-Friday 9am-5pm Pacific Standard Time

Manufactured Home Loans to Veterans
Questions and Answers on Manufactured Home Loans for Veterans
VA Pamphlet 26-71-01, Revised February 1993

The questions and answers included in this pamphlet are intended to cover major items of interest to veterans interested in buying a manufactured (mobile) home. The questions do not cover all possible situations involved in financing the purchase of manufactured homes. Full information about such situations may be obtained from VA regional offices at 1-800-827-1000.

What is a VA-Guaranteed Manufactured Home Loan?

VA-guaranteed manufactured home loans are made by private lenders such as finance companies. The guaranty means that VA will protect the lender against loss if the veteran or a later owner fails to repay the loan. The amount VA will guarantee is 40 percent of the loan amount or the veteran's available entitlement, up to a maximum amount of $20,000. The guaranty amount is not the same as the amount a veteran can borrow (see question concerning loan amounts).

Who is Eligible for a Manufactured Home Loan?

All veterans with sufficient qualifying service subsequent to September 15, 1940, including service in the Selective Reserve, and active duty service personnel who have served continuously for at least 90 days are eligible for manufactured home loans. When an ending date is set for the Persian Gulf War, those who enter on active duty after that date must complete more than 180 days of continuous active duty. Additional details are contained in VA Form 26-1880, Request for Certificate of Eligibility for VA Home Loan Benefits; VA Pamphlet 26-4, VA-Guaranteed Home Loans for Veterans; or may be obtained by contacting the nearest VA regional office or center.

How is Eligibility Determined?

A veteran may request a Certificate of Eligibility from the nearest VA regional office. This request should be made on VA Form 26-1880, Request for Certificate of Eligibility for VA Home Loan Benefits, and accompanied by the discharge or separation papers (DD Form 214), or evidence of current active duty status.

What are the Requirements for Loan Approval?

To obtain a VA loan, the law requires that:

• You must be an eligible veteran who has available home loan entitlement;
• The loan must be for an eligible purpose;
• You must occupy or intend to occupy the property as your home within a reasonable period of time after closing the loan;
• You must have enough income to meet the payments on the loan, cover the costs of owning a home, take care of other obligations and expenses, and still have enough income left over for family support (a spouse's income is considered in the same manner as the veteran's); and
• You must have a good credit record.

What is the Maximum Amount a Veteran May Borrow?

The maximum loan amount for a new manufactured home is the lesser of the following:

• 95 percent of the purchase price of the property securing the loan, plus the VA funding fee, or
• Determination of the manufacturer's invoice cost, plus or minus the cost of any items added or removed by the dealer, plus certain other costs (up to certain maximums), plus the VA funding fee.
• The maximum loan amount for a used manufactured home or a lot and/or necessary site preparation is determined by appraisal.
• Additional information on maximum loan amounts may be obtained from the nearest VA regional office or center.

What are the Loan Repayment Terms?

The maximum terms for manufactured home loans are: 20 years and 32 days for a single-wide unit or a combination single-wide unit and lot; 23 years and 32 days for a double-wide unit only; 25 years and 32 days for a double-wide unit and lot; and 15 years and 32 days for a lot only on which to place a manufactured home you already own.

What is a Manufactured Home for VA Loan Purposes?

A manufactured home is built on a permanent frame and is made to be moved in one or more sections. It must be built to be lived in year round by a single family and there must be permanent eating, cooking, sleeping and sanitary facilities. A single-wide manufactured (mobile) home must be at least 10 feet wide, with a minimum floor area of 400 square feet; double-wide units must be at least 20 feet wide, with at least 700 square feet of floor space.

A modular home is not the same as a manufactured home for VA purposes. Although the parts or sections of a modular home are built in the factory and then moved to the building site, the home must still be put up and completed at the building site. You may, however, obtain a loan to purchase a modular home under VA's regular home loan program. (See VA Pamphlet 26-4, for information about that loan program.)

What Types of VA Manufactured Home Loans are Available?

You may use a VA-guaranteed loan to:

• Buy a manufactured home and/or lot
• Buy and improve a lot on which to place a manufactured home you already own and occupy.
• Refinance a manufactured home loan in order to buy a lot.
• Refinance an existing VA manufactured home loan to reduce the interest rate.

Where Must a Manufactured Home be Located?

Any rental site, or lot owned or to be purchased by the veteran which has been approved by VA.

What Factors Should be Considered in Choosing a Site?

If you are placing a manufactured home on land you are buying or already own, consider how far away the utilities are and the cost of hookup. If service from a public or community water or sewage system is not available, find out if the ground water and subsoil conditions are satisfactory for an individual well and/or sewage disposal system.

If you are buying a manufactured home that will be placed in a park, find out about the rental cost, miscellaneous services, and other rules and requirements established by the owner of the park.

Remember, if you want to move your home at a later date, you will need a professional mover and the costs involved will be expensive.

How Does a Veteran Go About Getting a Loan?

You should:

• Get a Certificate of Eligibility from the nearest VA regional office or center if you have not already received one from VA.
• Find a manufactured home which meets VA standards.
• Arrange for rental or purchase of a manufactured home lot.
• Arrange a VA loan through the dealer or apply directly to a lender for a VA loan.

What is the Interest Rate?

The rate depends on market conditions. VA does not set the interest rate.

Can the Interest Rate be Changed?

Once a loan is made, the interest rage generally remains the same for the life of the loan. However, if interest rates on manufactured home loans go down, a veteran who still owns a manufactured home obtained with a previous VA loan may apply to a lender for a new VA loan to refinance the first loan at a lower interest rate.

Is a VA-Guaranteed Loan a Gift?

No. It must be repaid, just as you must repay any money you borrow. If you fail to make the payments you agree to make, you may lose your home through foreclosure, and you and your family would probably lose all the time and money you had invested in it. In addition, if the lender takes a loss, VA must pay the guaranty to the lender, and you will be required to repay the amount paid by VA.

If a Manufactured Home is Sold, Can the VA Loan be Assumed?

Yes. However, for loans made after March 1, 1988, the veteran is required to apply to the holder of the loan for approval of the assumption and release from liability. If the loan was obtained prior to that date, it may be assumed without the approval of the loan holder or VA, but the veteran will usually remain liable on the loan unless he or she applies to VA for a release from liability and VA grants the release in writing.

Will a Release of Liability Restore the Entitlement the Veteran Originally Used in Getting the Loan?

No. To have entitlement restored, the veteran must dispose of the manufactured home and/or lot and the loan must either be paid in full or assumed by a qualified veteran-transferee who agrees to substitute his/her entitlement for that used originally by the selling veteran. Restoration or substitution of entitlement is not automatic. You must apply for restoration of entitlement by completing and returning VA Form 26-1880 to any VA regional office or center. Applications for substitution of entitlement must be requested from the VA office that guaranteed the loan.

How Can a Veteran Get a Release From Liability From VA?

The veteran will be released from liability on the VA loan if you lender or VA determines that the loan is current and the purchaser of the property is able to make the payments, and assumes full liability on the loan and all the veteran's obligations regarding the loan. For loans closed prior to March 1, 1988, the application forms for a release from liability must be requested from the VA office that guaranteed the loan. For loans closed on or after March 1, 1988, the application forms must be requested from the lender to whom the payments are made.

Can a Veteran Get More Than One VA Manufactured Home Loan?

Yes, if you qualify for restoration of entitlement, or you have enough entitlement left to buy another manufactured home and you have disposed of the previous manufactured home.

Compensation and Pension | GI Bill | Vocational Rehabilitation | Home Loans | Life Insurance
Regional Office Homepages | Manuals & Regulations | Reports & Surveys
Survivors' Benefits | If You Owe VA Money
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We offer home loans in California for: New Home Purchases Low Rate Refinance Debt-Consolidation Cash-Out Home Improvements

Our loans are straight forward: Free no cost or obligation loan analysis No application fees Fast and easy loan processing Low fixed rates No pre-payment penalty Terms up to 25 years Low down payment Bi-weekly payment option Automatic payment withdrawals

On-Line or call our Loan Specialists at 1-650-366-9100 and see why so many people in California have selected Home Loan Servicing, Inc. as their Mobile Home Loan Provider. We have assisted thousands of satisfied customers in California and throughout the nation by offering affordable home loans...Why Not You!

Just a few moments of your time could save you thousands of dollars in finance charges on your mortgage. We make it easy to get mobile home loans in California and across the nation for all types of loans with nationally recognized lenders that offer loan programs just right for you.

Actual Rate: The Actual Rate is the annual interest rate you pay on your loan (sometimes referred to as the "note rate"), and is the rate used to calculate your monthly payments.

Adjustable Rate Mortgage: A loan that adjusts on a regular schedule based on a national economic index and the lender's margin.  Also called "variable rate mortgage." JCF Lending Group does not offer adjustable rate mortgages or A.R.M's and does not endorse or recommend adjustable rates mortgages.

Amortization: The process of paying off a mobile home loan with regular payments over a fixed time period, where principle & interest are made on each payment.

Amortization Schedule: A timetable for payments of a manufactured home mortgage showing the amount of each payment that is applied to interest & principle.

APR (Annual Percentage Rate): The APR includes both your interest and any additional costs or prepaid finance charges you might pay, such as prepaid interest, private mortgage insurance, closing fees, points, etc. Your APR represents the total cost of credit on a yearly basis after all charges are taken into consideration. It will usually be slightly higher than your Actual Rate because it includes these additional items and assumes you will keep the loan to maturity.  

Application Fee: A one-time fee charged by a lender for processing a borrower's application for a manufactured home mortgage loan.  Sometimes the application fee covers the cost of the credit report. JCF Lending Group does not charge an application fee.

Appraisal: A professional opinion of the market value of a manufactured home property, in comparison to other manufactured homes that have sold within or in proximity to the home in question.

Appreciation: An increase in the value of a mobile home due to change in market conditions, home improvement or other factors. Contrary to popular belief, manufactured homes can and do appreciate.

Assessed Value: The value placed on a manufactured home by a public tax assessor for the purpose of determining property taxes. This is considered the least reliable method of determining a manufactured home value and should be given little weight when making a buying or selling decision.

Assumable Mortgage: A loan that can be taken over, or assumed, by a buyer when the mobile home is sold. Only some of JCF Lending Group's financial products are assumable.

Automated Underwriting: A computer-based method that enables mortgage lenders to process a loan application more quickly by using credit scores and other loan application data to make a recommendation on whether or not to extend a mortgage loan. JCF Lending Group personally reviews each and every application and does not use automated underwriting.

Balloon Payment Mortgage: A loan with fixed monthly payments based on a 30-year schedule of payments, but the entire balance of the loan comes due at the end of a set period, usually five, seven or ten years. JCF Lending Group does not offer balloon payment mortgages and does not endorse or recommend their use.

Bank: A depository institution chartered under federal and state regulations that offers services such as checking accounts, savings accounts, consumer loans, safe-deposit boxes, investment services and automatic payment of bills.

Bankruptcy: A legal proceeding declaring that an individual is unable to pay debts, which may release the person from repaying debts owed.

Borrower: The person who applies for and obtains a manufactured home mortgage loan. 

Budget: A financial plan for spending and saving money. 

Building Permit: A written permit that must be purchased from the local government by anyone doing remodeling or rehabilitation work on a property.

Buy-Downs: Points a borrower pays in advance to lower the interest rate. Only recommended for long term ownership. JCF Lending Group can sometimes finance Buy Down points into the mobile home loan.

Buyer's Agent: A real estate professional who enters into a contract of agency relationship with a buyer, and typically gets paid by splitting the sales commission with the selling or listing agent.

Cap: The maximum amount an interest rate can increase or decrease in a designated period of time (interest rate cap) or over the life of the loan (lifetime cap) on an adjustable rate loan.

Capacity: An applicant's ability to earn enough income to make the new mobile home mortgage loan payments and still pay all other living expenses. 

Capital: The funds that a potential homeowner has available for the up front costs of manufactured home ownership, such as the down payment and closing costs. 

Cash-Out Refinance: When an owner refinances their manufactured home loan and takes some home equity out as cash. JCF Lending Group offers Cash-Out Refinance loans on manufactured homes in parks.

Cash Reserves: A requirement of some lenders that buyers have sufficient cash remaining after closing to make the first several mortgage payments. JCF Lending Group does not have any cash reserve requirements.

Chapter 7 Bankruptcy: A form of bankruptcy that involves total liquidation of assets. There is no repayment of debt on a Chapter 7 Bankruptcy.  

Chapter 13 Bankruptcy: A form of bankruptcy that involves a repayment plan.

Charge Off: An accounting term to indicate that the creditor does not expect to collect the balance owed on an account.  However, most creditors will continue to pursue collection of the debt.

Chattel: A loan secured against personal property, which is common in the financing of manufactured homes.

Clear Title: A title that is free of liens and legal encumbrances on the ownership of personal property.

Closing: The final steps in the transfer of property ownership, which usually occurs at a formal meeting between the buyer, seller, and third party agent(s), where the buyer signs the manufactured home mortgage contract. The seller receives payment for the property, the buyer and/or seller pay closing costs, and the title is transferred from the seller to the buyer. 

Collateral: Expenses accepted as security for a loan, that measures the value and condition of the mobile or manufactured home to make sure it is worth at least as much as is being borrowed against it..

Commission: The fee a real estate agent is paid for helping to sell a manufactured home that is usually based on a percentage of the purchase price of the home.

Commitment Letter: A formal offer by a lender stating the terms under which it agrees to loan money to a mobile home buyer or borrower.

Community Reinvestment Act (CRA): A federal law that encourages lenders to meet the credit needs of their local communities.

Comparative Market Analysis (CMA): A written analysis of comparable houses currently being offered for sale and comparable houses sold in the past six months in the general area.

Condominium: A home that is attached to other homes and shares common areas that everyone in the building, development, or community owns together and maintains through a homeowner's association fee.

Consolidation Loan: A manufactured home loan obtained that combines payments of separate bills into one loan payment.

Contingency: A condition put in a purchase agreement when an offer is made to buy a manufactured home.

Contract for Deed: A type of seller financing, also known as "owner carry", where the buyer makes a down payment and installment payments to the seller, but there is no transfer of title for the borrower to own the home until the loan is fully paid or the manufactured home is refinanced into the borrower's name.

Contractor: An individual who is hired to build or rehabilitate a property.

Conventional Mortgage: A loan made by for-profit lenders and not insured by the federal government.

Cooperative (Co-op): A type of group ownership where all members own the community's living units and common areas by owning shares of the property. See Condominium.

Co-signer: A person who agrees to share credit responsibilities and repays the debt if the original borrower defaults.

Counteroffer: A response from the seller changing some of the terms of an original offer.

Credit: The granting of money in exchange for a promise of future repayment that measures an applicant's likeliness to repay a loan based on how previous debts have been handled and paid.

Credit Counseling: Advice given by professional counselors to inform people about how to use credit responsibly and how to get out of serious debt. Credit Counseling services will also make repayment arrangements with the original creditors.

Creditor: Any person or business to whom the consumer owes money and who has the right to undertake legal action to attain money owed on the original debt..

Credit Report: A record of how a consumer has paid credit in the past. Used as a guide to determine a potential manufactured home buyer's creditworthiness.

Credit Reporting Agency: A company that gathers, files and sells information to creditors and others with a legitimate business purpose.  Also called a "credit bureau."

Credit Score: A numerical value based on the analysis of a credit report that is used by creditors to predict how likely an individual is to repay a new manufactured home loan.

Credit Union: A financial institution that is a cooperative and offers checking and savings accounts and other financial services for its members. Many credit unions now offer manufactured home financing.

Debt: Money owed.  Also called a "liability."

Debt Management Plan: A bill payment plan for a borrower in a credit emergency that is agreed to by the borrower and creditors.

Debt-to-Income Ratio: The maximum percentage of a borrower's gross monthly income that can be spent on the mobile home payment and all other creditor debts. 

Deductible: The amount of cash payment required by an insurance policy that is made by the homeowner to cover a portion of a damage or loss.  Typically, the higher the deductible, the lower the cost of the policy. 

Deed of Trust: An alternative to a mortgage in some states, whereby a third party holds the deed of the property as security until the buyer/borrower repays the loan.  Also called "trust deed."

Default: Failure to meet financial obligations or make payments, which may result in the lender foreclosing on the manufactured home loan.

Depreciation: A decrease in the value of the property due to changes in market conditions, wear and tear on the property, or other factors.

Disclosures: Federal or State requirements to provide information about a property for sale, especially as it represents actual or potential defects or problems.

Document Recording: The process of recording certain documents and making them part of the public record that follows closing.

Down Payment: The amount of cash a borrower pays toward purchasing a manufactured home. This money is typically given to the seller.

Dual Agent: A real estate professional who represents both the buyer and the seller in a mobile home purchase transaction.

Due-on-Sale Clause: A provision in a mortgage allowing the lender to demand repayment in full if the borrower sells the property that secures the mortgage.

Earnest Money: Funds that are included with an offer to purchase a manufactured home and to show good faith in following through with the transaction.

Equal Credit Opportunity Act (ECOA): A federal law that requires all lenders and other creditors to make credit equally available to a potential borrower without discrimination based on race, color, national origin, age, sex, marital status or receipt of income from public assistance programs.

Equity: Ownership interest in an asset after liabilities have been deducted.This is the difference between the appraised value of the home and the loan payoff.

Equity Loan: A loan based on the borrower's equity in the home.

Escrow: A written agreement or something of value put in the care of a third party and not delivered until certain conditions are fulfilled. The time period between when the purchase contract is signed and the loan closing.

Escrow Account: A special account set up by the lender to collect and hold monthly payments toward annual property taxes and homeowner's insurance. This is also called an "impound account."

Fair Credit Reporting Act (FCRA): A federal law that enables all consumers to learn what information credit reporting agencies have on file and to dispute inaccurate date in the file.

Fair Debt Collection Practices Act: A federal law that protects all consumers from abuse or threats from collection agencies trying to collect overdue payments on behalf of the original creditor.

Fair Housing Act: A federal law that prohibits any type of discrimination in all housing and real estate transactions.

Fair Market Value: The price a buyer is willing to pay and a seller will accept for the manufactured home.

FHA Loan: A type of mortgage that is insured by the Federal Housing Administration, a department of the Federal government. JCF Lending Group does not offer FHA loans.

Finance Charges: The total dollar amount that is charged to use credit, which includes any interest and/or other costs.

First Mortgage: A home loan that has priority over the claims of any additional or subsequent lenders for the same property in the event of default.

Fixed Expense: Any expense that does not change from period to period, such as loan payments.

Fixed-Rate Mortgage: A loan where the interest rate and payments remain the same over the life of the loan. All of Chattel Mortage loans have a fixed rate.

Flood Insurance: An insurance policy required by a lender if a buyer's house is located in a flood zone, as determined by the National Flood Insurance Program (NFIP).

Forbearance: The act by which a creditor extends time for payment of a debt or forgoes for a time the right to enforce legal action on the debt or the legal process used to force the payment of a debt secured by collateral whereby the property is sold to satisfy the debt.

For-Sale-By-Owner (FSBO): A home that is offered for sale by the owner without the use of a real estate agent.

Gift Letter: A document that is required by a lender if a borrower receives a down payment or any part of a down payment from an individual as a gift, that is not to be repaid.

Good Faith Estimate: A document that discloses any anticipated settlement or closing costs involved in the transaction.

Graduated Payment Mortgage: A loan that originally starts out with low monthly payments, and then over a period of years, the payments go up slowly and then stay fixed for the rest of the loan. JCF Lending Group does not have a Graduated Payment program.

Gross Income: Money earned before any taxes are withdrawn.

Hazard Insurance: Insurance that protects the homeowner against physical damage to the manufactured home from fire, wind, vandalism and other hazards.

Home Equity Line of Credit: A type of loan that allows the homeowner to access the loan money with checks or a credit card as needed. Based on the equity in your home. JCF Lending Group does not have a program in place for this type of loan.

Home Equity Loan: A loan based on the difference of the amount of equity on a home and the home's current market value.

Home Improvement: Changes to a house that increases its value, such as modernizing a kitchen or replacing carpet or flooring. JCF Lending Group can provide Home Improvement loans if the home is located in a manufactured home park or community.

Homeowner's Association: A group of homeowners within a defined community, neighborhood or complex who make decisions, pay to maintain and repair land and common areas and/or enforce community rules and covenants.

Homeowner's Insurance: An insurance policy that combines liability coverage and hazard insurance on your home.

Home Warranty: A guarantee for certain features of a new home, such as the materials, workmanship and/or its main components offered by a dealership or builder.

Home Warranty Policy: An optional policy that is available that protects a homeowner against the cost of high repair bills for one year if the heating, plumbing, air conditioning or appliances break down.

Housing Allowance: A calculation which considers the monthly home payment, land payment and/or lot lease payment. Lenders in the manufactured home industry try to keep this to no more than 34% of an applicants monthly gross income.

Housing Inspection: A professional opinion of the structural soundness and condition of a manufactured home..

Housing Ratio: The maximum percentage of a borrower's gross monthly income that can be used to make the monthly mortgage payments and land or lot rent.  Also called "housing allowance".

HUD-1 Settlement Statement: A final statement listing all of the costs of the sale of a property and who pays for them. HUD-1 Settlement Statements are prepared by escrow/title companies and may or may not applicable to manufactured home sales, depending on the State..

Index: A published market index rate tied to an economic indicator that is used to calculate the interest rate of an adjustable rate mortgage at origination and at each adjustment period.

Installment Loan: A credit account in which the amount of the payment and the number of payments are fixed.

Interest: The cost of borrowing money.

Interest Factor: The cost for borrowing $1,000 of a mortgage loan based on interest rate and term.

Interest Rate: The percentage of a loan amount charged for a loan.

Interest Rate Lock-In: A written guarantee that a buyer will receive a specified interest rate from a lender, provided that the loan closes within a set period of time.

Joint Tenancy: A form of ownership, where two or more people live together and have an equal and undivided interest in the property.

Judgment: The official court decision of an action or lawsuit that may be listed on a credit report as a public record.

Land Lease: When a person owns a house and rents the land beneath. Also relates to mobile home parks and manufactured home communities..

Lease-Purchase Mortgage: A type of financing option that allows a potential home buyer to lease a home with an option to buy, where each month's rent payments include an extra amount that is deposited into a savings account to accumulate money for down payment and closing costs.

Lender: The entity, business or person who offers a mortgage loan. 

Liability Protection: Insurance that covers people (other than the insured) and their personal property in cases of injury or damage while on the homeowner's property.

Lien: A legal hold or claim of one person on the property of another as security for a debt or charge that may be listed on a credit report as a public record. When the mobile home or manufactured home is in a park or is not attached to real property, the lien will normally appear on the home's title.

Listing Agent: A real estate professional who has a contract with the seller of a house to advertise the property for sale and represent the seller when offers are made.  If the listing agent is listing a mobile or manufactured home in a leased lot situation, most states require that the listing agent be a licenced dealer.

Loan Term: The length of time a borrower has to pay off a loan.

Loan-to-Value Ratio (LTV): The ratio of the loan balance to the appraised value of the house.

Manufactured Home: A home built entirely in a factory under a federal building code administered by the Department of Housing and Urban Development (HUD) that went into effect June 15, 1976. 

Mobile Home: A factory constructed home built from 1970 to June 15, 1976.

Modular Home: Factory-built housing with onsite assembly and some onsite construction that is built to meet state and local codes and does not have a chassis. This is usually considered real property.

Mortgage: A security agreement between the lender and the borrower in which the property is collateral for the loan.  The mortgage gives the lender the right to collect payment on a loan and to foreclose if the loan obligations are not met.

Mortgage Bank: A type of financial institution that offers only mortgage financing and/or loans.

Mortgage Broker: A company or individual that locates lender for the borrower for a fee. Brokers are considered the middle man. The use of a mortgage broker can increase your rate and fees that a borrower would have received had they borrowed from a lender directly.

Mortgage Insurance (MI): A policy required by the lender if a borrower puts less than 20% cash down when buying a home with a conventional loan to protect the lender from collateral risk in case of default.  Also called "private mortgage insurance (PMI)." JCF Lending Group does not require mortgage insurance.

Mortgage Life Insurance: An optional form of life insurance that pays off a mortgage if the borrower dies. This has proven to not be cost effective for consumers. Chattel mortgage does not offer mortgage life insurance.

Mortgage Note: A legal document obligating a borrower to repay a loan at a stated interest rate during a specified period that is secured by a mortgage and either recorded by title or in the public records along with the deed, in the case of a real property transaction.

Mortgage Payment: The total monthly loan payment known as principle, interest, taxes and insurance (PITI).

Multiple Listing Service(MLS): A service within a given community or area that allows real estate professionals to submit listings and agree to attempt to sell all properties in the service. Some MLS services also list manufactured homes in parks.

Negative Amortization: Payment terms under which the borrower's monthly payments do not cover the interest due, and the loan balance subsequently increases. This occurs when small balances are mortgaged for extended terms.

Nontraditional Credit History: A record of credit performance shown with receipts and check stubs from payments to landlords, utility companies, child-care providers and other applicants who do not have a credit history from traditional loans and other forms of credit.

Origination Fee: A fee that is charged by lenders for submitting, processing and evaluating a proposed mortgage loan.

Payment Plan: An agreement with a lender in which a borrower promises to make up any missed payments by sending one full payment and one partial payment each month until delinquent mortgage payments are caught up.

Planned Unit Development (PUD): A type of property that is part of a subdivision and has common areas that are shared with all residents and maintained through a homeowner's association fee.  Usually, the owner owns the home and the land on which it stands. Also called a "co-op" in the case of mobile or manufactured homes.

Point: A fee that is one percent of the loan amount.

Pre approval: A guarantee that a lender will loan a potential buyer a fixed dollar amount as long as they buy a home within a certain time frame and the house appraises for the amount of money for which they qualify.

Predatory Lending: A type of lending that falls between appropriate risk-based pricing and blatant fraud and combines certain products, terms, prices and practices.

Pre-Foreclosure Sale: When the lender agrees to allow a delinquent borrower to sell the house to avoid foreclosure.

Prepayment: Paying more each month than the amount of the regular mortgage loan payment to pay the loan off sooner and save money on interest charges.

Prepayment Penalty: Some lenders will charge a borrower either a flat rate, or percentage of the loan, if the loan is paid in full prior to the maturity date.

Pre qualification: The process used by lenders to calculate a potential buyer's mortgage affordability, usually based on unverified information.

Prime Lending: Lending to borrowers with highly rated credit histories. 

Principle: The outstanding balance of a loan, not including interest and other charges.

Promissory Note: A document in which the borrower promises to repay a loan. 

Property Tax: A tax charged by the local government and used to fund a variety of municipal services such as schools, police or street maintenance. Manufactured home owners in parks pay personal property taxes in most States.. 

Prorations: Certain items that are continuing expenses such as property taxes and space rent that must be distributed between the buyers and the sellers at the close of sale and/or escrow.

Public Record: Information obtained by a credit reporting agency from court records, such as liens, bankruptcy filings and judgments.

Purchase and Sale Agreements: A written contract signed by the buyer and seller stating the terms and conditions under which a property will be sold.

Purchase Offer: A purchase proposal to the seller of a house, telling the amount a certain buyer would pay for the house and other conditions that would have to be met before the proposed home sale.

Quitclaim Deed: A deed that operates to release any interest in a property that a person may have. A quitclaim deed is not valid and/or does not apply to manufactured homes, which are considered personal property.

Real Estate Broker: A real estate agent that is authorized to open and run his or her own agency. Most states require real estate brokers to also be licensed dealers when selling manufactured homes in parks or communities where the land is leased.

Real Estate Settlement Procedures Act (RESPA): A lending regulation that establishes laws and procedures for closing mortgage loans.  RESPA prohibits cost increasing practices, such as kickbacks and referral fees and requires advance disclosure of settlement costs.

Realtor^®: A real estate agent or agency that belongs to the local or state board of Realtors^® and has an affiliation with the National Association of Realtors^®.

Redlining: An illegal practice of discrimination against a particular ethnic group by mortgage lenders who decide that certain areas of a community are too high risk and refuse to lend to buyers who want to purchase property in those areas, regardless of their qualifications or creditworthiness. 

Refinancing: The process of paying off one loan with the proceeds from a new loan secured by the same property.

Replacement Coverage: An optional insurance feature available on both a house and its contents that pays to restore it to it's original condition if the home is damaged or replace contents if they are lost.

Repossession: Property that is taken back by the creditor when the borrower does not make payments due on the property.

Reverse Mortgage: A special type of home loan that lets an elderly homeowner convert the equity in the home into cash. Reverse mortgages are not offered by JCF Lending Group.

Revolving Account: A credit agreement that allows a borrower to pay all or part of the outstanding balance on an account.  As credit is paid off, it becomes available again to use for another purchase or cash advance.

Second Mortgage: A home loan that has rights subordinate to the rights of the first mortgage. Not normally offered to manufactured homes located in parks and/or leased lot communities.

Servicing: The collection of payments and management of operational procedures related to a mortgage.

Settlement Statement: A document required by the Real Estate Settlement Procedures Act that is an itemized statement of services and charges relating to the closing or settlement of the property  transfer.  Also called "HUD-1 Settlement Statement" or "Uniform Settlement Statement."

Single-Family Home: A type of property, usually detached, where one family owns the home and the land on which it stands.

Sole and Separate: A form of ownership where one individual owns the property, another the manufactured home.

Specifications: A detailed description of the size, shape, materials and other details of a building or remodeling project.

Sub prime Lending: A type of lending that relies on risk-based pricing to serve borrowers who cannot obtain credit in the prime market, where higher degrees of risk for borrowers carry higher costs for loans.  Sub prime loans are often called "B- through D" credit.

Survey: A professional measurement of a property and the land around it.

Tenancy in Common: A form of ownership where two or more people own a property and can have different shares of ownership. Also called a "co-op".

Title: A legal document establishing the right of ownership in a property.

Title Insurance: Insurance to protect the lender (lender's policy) or the buyer (owner's policy) against loss arising from disputes over ownership of a property.

Truth-In-Lending Act (TILA): A federal law that requires creditors to give complete and accurate information about the cost of credit to consumers and the terms of repayment.

Truth-In-Lending Statement: A document that discloses the terms and cost of a mortgage loan, including APR.

Underwriting: The process of analyzing a borrower's finances and payment history in order to approve or deny a loan.

VA Loan: A loan that is guaranteed by the Veterans Administration, a department of the Federal Government.

Variable Expense: An expense that changes from period to period, such as utilities, food, clothing and entertainment.

Verification: The process of making sure that all of the borrower's loan application information is accurate.

Walk-Through: A final inspection of the property by the buyer to determine that the property is as described in the purchase agreement, which is usually conducted right before closing.

Workout Agreement: The negotiated agreement that is made with the lender or servicer to address a debt by the homeowner in order to avoid foreclosure.

Zoning: A county or city law stating the types of use to which properties can be put in specific areas.

Minimum Requirements are checked .

		Minimum 620 credit scores, preferably 650 and above.
		Maximum DTI (Debt to Income Ratio) = 50%
		Minimum down payment required for a primary residence is 5 - 10% Credit quality and loan affordability will ultimately determine your required amount down.
		Minimum down payment required on 2nd home (Vacation or Investment) = 20%.
		Age of Home 1976 or newer. Exceptions are made in California.
		Minimum loan amount of $10,000 required.
		Loans are not available in the following states: AK, CT, HI, MA, NH, NJ, NV, RI, VT.
		Loan Terms 5 - 20 years, up to 25 years with land.
		Stated Income Programs require a minimum 20% equity.
		Interest Rates will vary depending on Age of Home, Equity, Credit Scores, Single Wide, Double Wide, or if land is involved.
		Equity Programs available for applicants scoring less than 620. Minimum 35-40% down payment required.
		How mobile home valuation is derived by 21st Mortgage:
		Mobile Home Only*: Value is derived by the lesser of the N.A.D.A. Appraisal Value or Purchase Price of the Mobile Home. Mobile Home and Land: Certified Land Only Appraisal with improvements (Well, Septic, Detached Garage, etc.) + the valuation in a.
		* A certified Mobile Home Appraisal may be considered if the following conditions are met: All Comps are located within the same park and All Comps have been sold in the last year.

• No Application Fees – we are confident you will find our application process and service top in the industry. We value your business.

• Land / Lot size – unlimited acreage size: must have publicly maintained road frontage. Minimum lot size is 1/4 acre.

• Property – 21st Morgage is unable to finance property located on dirt, gravel or non-publicly maintained road frontage. Only land located on paved roads will be considered.

• Fixed Rates – are all that we offer, your payment will never fluctuate. No adjustable, variable or balloon mortgages ever to worry about.

• No pre-payment penalties – you are free to pay off your loan early or refinance at any time without penalty.

• No commercial property / land – 21st Mortgage will only finance / refinance residential properties.

• Land refinance – get away from a high interest, adjustable, variable or balloon mortgage.

• Down Payment – For as little as 5% down you can own land. Credit quality and loan affordability will ultimately decide your amount down required.

• Terms – any increment up to 25 years.

• Closing Costs – in order to assist you with your purchase, all closing costs beside your initial down payment, can be financed into the loan.
  
  

Program Highlights:

• No Application Fees – we are confident you will find our application process and service top in the industry. We value your business.

• Fixed Rates – are all that we offer, your payment will never fluctuate. No adjustable, variable or balloon mortgages to worry about.

• Interest Rates – will vary depending on age of home, equity, credit scores, single wide, double wide, or if land is involved.

• No Prepayment Penalties – you are free to pay off your loan early or refinance at any time without penalty.

• Single Wides and Double Wides – regardless if the home is located in a park, on leased land or private land 21st Mortgage can assist.

• Lower Payments – save money monthly.

• Lower Term – build equity faster or payoff your home earlier.

• Cash Out/Debt Consolidations – use your equity to payoff high interest creditors.

• Skip a Payment – one of many benefits of refinancing.

• No out of Pocket Closing Costs – all your closing costs can be financed into the loan.

• Refinance Home and Land – combine your home and land payment into one payment.

• Terms – can be reduced or extended in any increments.

• Mortgage Insurance – not required on any of our loans.

• Insurance – homeowner’s insurance can be financed into the loan.

• Escrow – is available for insurance and taxes for your convenience.

• Bi-Weekly Program – is a great way to save thousands of dollars in interest over the life of your loan. This method allows you to pay every two weeks by automatic bank draft.

Program Highlights:

• No Application Fees – we are confident you will find our application process and service top in the industry. We value your business.

• No Prepayment Penalties – you are free to pay off your loan early or refinance at any time without penalty.

• Fixed Rates – are all that we offer, your payment will never fluctuate. No adjustable, variable or balloon mortgages ever to worry about.

• Interest Rates – will vary depending on age of home, equity, credit scores, single wide, double wide, or if land is involved.

• Single Wides and Double Wides – regardless if the home is located in a park, on leased land or private land 21st Mortgage can assist.

• Purchase – for as little as 5% down you can own a manufactured home. Credit   quality and loan affordability will ultimately decide your amount down required.

• Purchase Land – refinance your home and combine your home and land payments. For as little as 5% down on the land purchase price and improvements you can own land.

• Auto Monthly Payments or Pay On-Line – is available for all of our customers.

• Bi-Weekly Payments – is a great way to save thousands of dollars in interest over the life of your loan. This method allows you to pay every two weeks by automatic bank draft.

• Closing Costs – in order to assist you with your purchase, all closing costs besides your initial down payment, can be financed into the loan.

• Insurance – can be financed into the loan.

• Terms – any increments up to 25 years.

• Mortgage Insurance – not required on any of our loans.

• Down Payments – we don’t offer 100% financing but we will accept gifted down payments from family members in order to help you with your purchase.

We Specialize In All In Park Mobile Home Loans Throughout The United States.  

• Do You Need Money Fast?
• Maybe You Would Like To Consolidate Those High Rate Credit Cards?
• Perhaps You Just Need A Lower Interest Rate & Lower Monthly Payment? 
• Are you Fed up With the Big Banking Neglect of Mobile & Manufactured HomeOwners?
• Maybe Your Just Tired Of Hearing Your Credit isn't Good Enough, Your Home Is Too Old Or You Don't Earn Enough Money?
• Are You Tired of Yes, Yes, Yes Until "they" Find Out Your Home Is A Mobile Home?

Then Home Loan Servicing, Inc is for you! We are one of a select few lenders in the United States who actually makes mobile & manufactured home loan financing & Refinancing their only lending priority.

Whether you have have great credit, good credit, fair credit or really bad credit, Home Loan Servicing, Inc will move mountains for the right to service your mortgage loan.

Home Loan Servicing, Inc refinances & finances any year mobile home, any credit score, any home location, any size mobile home and any employment situation, including the long neglected self-employed, those on Social Security, dsability or even un-employed.

Home Loan Servicing, Inc prides itself on loans just for the mobile home owner, a home owner long seen by big banking as less than desirable. We are a proud AAA member of the Better Business Bureau, a member of most states manufactured housing institutes & a stern voice for positive change  within all divisions & areas of the manufactured housing industry, including  rent control, greater financing opportunities,  no money down new home purchase programs  and bad credit 2nd chance options.

Before Home Loan Servicing, Inc became the #1 source for Manufactured home owners, mobile home buyers took whatever the bank gave them & really didn't have much to say about it. There weren't many lender choices & less options for loan programs. Those days are gone for good! We are the pioneers of low rates, low closing cost manufactured home loans, no money down mobile home purchase programs, pre 1976 financing, stated income lending & bad credit mobile home refinancing.

Home loan Servicing, Incc understands that most bad credit manufactured home owners need a second chance in getting loans. Our poor credit manufactured home loan specialty division daily facilitates a number of bad credit mobile home loans; in fact most other lenders bring these bad credit manufactured home financing & refinancing packages to us. We have a decade of experience with bad credit manufactured home lending.

Home Loan Servicing, Inc  Will Refinance Your Manufactured Home Loan For Any imaginable reason...Including:

• Stop Forclosure
• Stop Nagging Creditors
• Eliminate High Interest Tax Leins
• Consolidate Loans Into One Payment
• Pay Off Credit Cards
• Buy a New Car
• Make Home Improvements
• Home Remodeling
• Take a Vacation
• Bank Some Reserves for Hard Times
• Start a New Business
• In Fact...Anything You Dream Of

  No Pre-Payment Penalty Option 

To further show our resolve to the bad credit community, Home Loan Servicing, Inc has pioneered  no pre-payment penalty poor credit manufactured home loans. With a no pre payment penalty bad credit mobile home loan, you are free to refinance to a lower rate and payment as soon as your credit and situation allows. We believe in long term relationships and that begins from the first loan.

                Reparing The Bad Credit

Home Loan Servicing, Inc can help you re-establish your borrowing credit for future manufactured home loans by simply giving you the tools to challenge negative items on your credit report. We can also help you contact creditors who wrongly state the information on your report. We have a decade of experience in helping people fix their FICO scores to once again put you in the preferred borrowing position.

                  Choosing The Right Loan

Home Loan Servicing, Inc needs to choose the right loan for both you and your family. We can look at great credit mobile home loans, bad credit mobile home loans, or somewhere in between; options like interest only, minimum payment, debt consolidation, unlimited cash and thirty year fixed programs to name a few.