Mobile Home Purchase Guide

Benefits Of Financing:

1. - Achieving the American Dream of Home Ownership while maintaining your budget.
2. - Attractive terms that can spread your payments over time.
3. - No pre payment penalties for early loan pay-off.
4. - Up to 90% financing available for Pre-owned homes and up to 95% for brand new homes over $75,000 to finance.
   
5. - Mortgage interest may be tax deductible (consult your tax adviser for details)

Learn More About New Purchases, Refinancing, or Debt Consolidation

Determine Your Budget 

• We finance up to 90% or 95% of the home, which means you need to have at least 10% down for pre-owned homes and 5% for new homes.  Find a home using your local retailer, real estate agents, web services or other listing programs. Your down payment will be determined by your credit score, the age of the home, the number of home sections and your debt to income ratio. MHVillage is a good place to start searching for manufactured homes.

If Purchasing, Pick A Home

• Manufactured home financing is based on the home you select and space rent where it will be located. Keep a home and price in mind to obtain prequalification.

Understand Your Credit History

• Your credit score is very important when financing or refinancing a mobile home.  Obtain your credit at AnnualCreditReport.com to get an idea of where you stand.  You may find incorrect information on your report that you can request to be removed. Follow this link to the FTC for more information. Learn More About Mobile Home Loans & Your Credit

Be Wise About Credit

• Don’t open new credit lines, purchase large items or max out your credit cards before applying for a loan.  This will negatively impact your debt to income ratio and prevent you from obtaining favorable loan terms or credit.

Let Us Work For You

• It usually takes 24-36 business hours to obtain a credit decision.  We will analyze your credit decisions from various lenders to meet your special needs.

Maintain Employment

• Changes in your job may result in unfavorable credit decision.  Don’t apply for new credit cards or anything that may affect your income/employment during or before the application process

Ask Questions

• Feel free to contact us at anytime to get answers to any questions you may have. You can also browse through some of the Frequently Asked Questions people typically have about manufactured and mobile home loans before filling out an application. We pride ourselves in our ability to maintain the highest marks in customer satisfaction and our A+ rating with the Better Business Bureau means quality and assurance every step of the way.  If you have questions please don’t hesitate to ask.

  The Loan Process:

  Step 1: Decide On A Home and Location for your Home. 
  Step 2: Apply For A Loan
  Step 3: Obtain A No Cost Or Obligation Pre-approval From FSU.
  Step 4: Select The Program That Fits You
  Step 5: Forward Your Loan Conditions To Obtain Loan Documents
  
  • - Income Documents
  • - 2 Months of Bank Statements
  • - Signed Purchase Agreement With Deposit
  • - Id (Drivers Lic. & Soc. Security Card)

  Step 6: Sign Your Loan Documents
  Step 7: Loan Proceeds Are Distributed To Seller And/or Escrow

   

Watch "Today’s Manufactured Home" Video

There's nothing quite like reaching your dream of home ownership. Knowing you're building equity and living the American Dream in your own home makes everything seem to go better, whether you're a first-time buyer or an "old pro."




Watch “Today’s Manufactured Home” Video