Custom Lending for Traditional and Manufactured Homes.
Mobile Homes High Loan to Value – You can borrow more
High Loan to Value Purchase or Rate and Term Loan Programs for Mobile Homes.
Our Lowest Loan Amount for Mobile Homes is $50,000.00
High Loan to Value offered for California mobile homes which may be in a mobile home park, on leased land.
These mortgages are for clients with good credit, and the program offers:
Up to 95% loan to value for 15 year loan terms. Age of homes must be 15 years old or newer.
Primary residences and second homes financed, but no investment homes.
Single Wide, Double Wide, and larger homes are financed here
We have very competitive rates.
In the case of a purchase, you may borrow 95% of the value of the house. That’s almost as high as an FHA, this case, loan.
Primary residence means as an owner occupant, your home is your principal place of residence. Or you can have a second home financed, at a lower loan-to-value.
Second home means a home that you occupy, as a vacation home, or maybe a home that’s located close to your office, so you can go home on the weekends.
Manufactured homes, in a couple of standard sizes. You can have a custom manufactured home of course. A single wide is just that. A normal single white size is 12 feet wide. The widest size that can be carried on the highway, is 14 feet. So there are single wide manufactured homes that are 14 feet wide.
FHA for instance, will not loan on manufactured house smaller than 400 sq. feet, however a lender may make their own minimum requirement. Most of our lenders want at least an 800 sq. ft.. home, because they are loaning against the home, not the land, and the loan gets pretty small as the house gets smaller than 800 sq. ft.
The standard size for a double wide manufactured home is 1440 Sq. Ft. this is made of 212 inch wide home sections.