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| Double wide mobile home refinance and finance for homes in a park, on leased land or owned land. Manufactured housing direct refinance and finance source. Debt reduction, cash out, equity loan, |
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| Manufactured & Mobile Home Lender with land or in mobile home park, refinancing loans lender. Nationwide 1-800-608-6898. Manufactured Mobile Home Loan, Financing, Refinancing Mobile Home Loans Lenders, in Park, with land refinance manufactured, mobile home. |
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| Manufactured Home Purchase Or Refinance Today! Do I Need a Down Payment? To purchase a manufactured/mobile home, in most cases, the answer is YES. A down payment is required. The amount of the down payment varies widely depending on a lot of variables in a borrower's application, such as debt compared to income, credit history, employment history, other assets, etc. When the manufactured/mobile home sits on leased land, such as a mobile home park or leased private lot, the typical down payment is 5 percent to 10 percent for a primary residence. For secondary housing the down payment could be 10 percent to 20 percent. Though often, depending on the customer, our loan professionals will work hard to reduce the down payment requirement as much as possible. When the home sits on owned land and the manufactured/mobile home are tied by deed and mortgage, this is a land home package. Different guidelines apply because the home is considered real estate. First, there are conventional loans which typically require a 5% minimum down payment for a 30 year loan term. Second, there is the very advantageous FHA and VA loans for manufactured/mobile homes on land. The FICO score is usually not a factor, and the typical down payment is 3 percent. VA loans may be secured with a valid coupon for 100 percent financing in most cases. The FHA loan has another terrific advantage which can yield a 100 percent financing situation. The seller can give a gift of 3 % to the buyer to make the purchase work if the seller is willing. Down payment money can also be obtained by a gift from a relative. As long as the funds can be verified through bank records, this form of down payment certainly qualifies. Unlike brick and mortar (or stick built) homes, there are few 100 percent financing programs available. This type of financing has, in fact, been a contributing factor to the mortgage crisis faced by Americans today. We do strive to provide every possible option available to our valued customers. It only takes a moment to find out if your home purchase qualifies. Our reliability and specialty in the manufactured/mobile home industry is why after a purchase, many customers come back to us to refinance. We know you have a choice when selecting a loan professional to assist you. That's why we "Go the Extra Mile" to make sure you receive the best experience possible. That's our promise! Thank you for choosing Earth Works Trust! |



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