Mortgages on Land You Own – Mobile or Manufactured Housing

Land you own, Purchase, Refinances and Cash Out Loans for Mobile Homes or Manufactured Homes.

The homes are located on land that you own, in an approved Manufactured Home Subdivision, or acreage. Mobile homes can be in Mobile Home Parks.

Land you own is legally called, Fee Simple Title.

Mortgages on Land You Own - Mobile or Manufactured HousingMortgages Highlights:

Mobile or Manufactured Home Loans for California State
Small Loan Amounts Available:

$70,000 plus for Manufactured homes, and

$50,000 minimum for Mobile Homes in a park;

Minimum Credit Score 600;
Finance-able Mobile Homes built in 1970 or later, with 25% down;
Reasonable Interest Rates and Closing Costs;
95% Loan to Value on mobile homes 15 years or newer, requires very good credit;
90% Loan to Value on mobile homes 16 years or older – up to the manufacture date of 6/15/76, more relaxed credit underwriting;
Most Loan Origination Fees can be Financed (Not appraisal or Escrow Fees);

Cash Out Loan Terms:

Amortized 20 year loan term, or less.
Cash Out loans at 65% of appraised value
Maximum of $25,000 cash out for any borrower or loan amount
Multi-Section homes only. (no single wides)

Mobile homes are homes delivered to a site, in one piece. They have tags, similar to DMV tags for cars. They are referred to as personal property, or chattels.

The manufactured home is delivered to the property the same way as a mobile home, but a double wide comes into halves. It has the same sort of HUD tags as a mobile home, but may be permanently affixed to the land. In that event there are no more personal property taxes, there are only real estate taxes.

Because mobile home security depends a great deal on the creditworthiness of the borrower, it’s difficult to find a loan program that will allow as lowest score as 600. We have that option available. Please read above to get the details.

If the mobile home is new, that is it was manufactured in 1976 or later, we have different program for that financing.

Most of the loans for mobile homes, our 15 to 20 years in length.

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