Condo, Cooperative or Park

We provide financing for a Mobile or Manufactured Homes.

These homes may be installed at a hybrid type location, such as a condo community, cooperative or park.

Condo or CooperativeHybrid, or quasi-land cooperative communities, cannot be financed the same way as manufactured homes on fee land. The financing is a specialty loan similar to mobile homes in a park.

Loan Programs available today are 10 to 20 years. No 30 year loans are available for this type of loan at this time. The Loan term depends on the size of the loan. The higher the loan amount, the more willing the lender is           to make a longer term loan.

Interest rates are higher than conventional funding, and can be under 6.99 to 11%. Each home is unique.

Locations are important. Some areas are not available for our loans programs because the loan amounts are too small or the area is depressed. Please check with us for your special financing needs and a custom quote.

Program Highlights for Purchase, Refinances and Cash Out Loans for Mobile Homes or Manufactured Homes, on land that you own, in an approved Manufactured Home Condominium Community:

Note: for a Cooperative Project Loan, a subordination agreement is required from the Cooperative Project Manager or Owner.

General Program Highlights: (Ask about other programs specific to your borrower needs)
Mobile or Manufactured Home Loans for the State of California only.
Small Loan Amounts Available, $70,000 plus;
Minimum Credit Score 680;
Financable Mobile Homes built in June 15, 1976  or later;
Reasonable Interest Rates and Closing Costs;
95% Loan to Value on mobile homes 20 years or newer;
90% Loan to Value on mobile homes 20 years or older – up to 6/15/1976;
Broker Lender fee is Borrower Paid:
Health and Safety Certificate of Occupancy required.
Foundation-433a filing required on all homes.
Amortized 20 year loan term
Cash Out loans at 65% of appraised value
Maximum of $75,000 cash out for any borrower or loan amount
Multi-Section homes only. (no singlewides)

Please contact me if you have a home that is built in a subdivision or community that is not approved for a conventional loan program. This is a hybrid-type of loan opportunity which could be of great help in the right situation.