Manufactured Home Loans are easier to get than most people realize. You  need a broker  who  understands the homes and  has a large source of lenders.

 

We have Manufactured / Mobile Home Mortgages for:

 

Purchase

 

Refinance

 

CONSTRUCTION!

 

We can do IN PARK homes that rent space.

 

 First, the loan market is in chaos. Over 250 major lenders out of business in the last 6 months! I have 10 lenders left from my original 35 that do manufactured/mobiles, and only 5 of those do mobiles in parks. You may see other mobile lenders in the internet but most of them are really brokers getting the money from the same 5 places, with a few exceptions being local credit unions here and there.

Because of our reputation and low fees, we receive many inquiries from people just like you who are looking for financing, so for the last few business days we called every source from coast to coast and had them update us on rates, fees and other guidelines. Here is what we came up with---it doesn’t make me happy but its all we have:

1. I couldn't get a single lender to give me a rate quotes based on the information I have on a borrower from just emailed questions and answers, even if you give me almost everything a lender could want. They want a FULL APPLICATION.

Why? Because they are offering different rates for different reasons and they match them to the total situation. For example,

In general, rates range from 7 to 14. That’s quite a spread. What determines it? Your credit score, your debt ratio, the loan to value ratio (How much equity you have left over on a refi or how much you are putting down on a purchase) the state, the park, the model, etc. etc.  Fees are the highest in CALIF because its the only state requiring the use of a title company/escrow office which can add about $1,000 to the fees! Otherwise several of the lenders have fees of only a few hundred dollars.

2. Some of you want to pull cash out. Well, the actual amount of cash in your hand depends on the state, your score, the year of the home, etc.etc. again!

If the loan is at 65% of value in CA, you can have all the cash you want. If the loan is 66% to 80% you can only clear $25,000 after paying off an existing loan and costs. Thats with one lender. There is more to this but you get the idea. Its a big puzzle and there is no way I can help you without a full application. I wouldn’t want to hear that and Im sure you dont either but I will actually get that in an email from my lenders so the public can see its not a trick or trap.  Remember I offer a 'no questions asked' guaranty on my site and you will know if Ive lied about anything.

So, we must have a general application. I can email and also fax these, and my website has the forms you can download and even a complete application ONLINE but it takes the longest.  Regarding your credit report---some of you already have yours. If you can email it to me, that will be a big help. If you can go apply for the three free credit reports per year, one from each of the bureaus by going to www.annualcreditreport.com or call (877) 322-8228, that will actually help you. You can then email it to me.Why? Because >>>  THIS IS IMORTANT!!<<<  Every time your credit is checked by a broker or lender, you DROP A FEW SCORE POINTS!  As a broker after money we should just be pushing to be able to pull your report and get it over with but people can actually loose a loan over 2 or 3 points. I can pull your report if you desire. Its called a tri-merge from all three reporting agencies and costs about $10.80 Its the most accurate but will drop a few points so its your choice. 

With a complete application and credit report, I will submit each of you to all 5 of my lenders to see who has the best program for you. This is of course free and you are under no obligation. You can fax the application to 503-620-2456 or email it back if you have a scanner. You can even mail it to 7475 SW Hermoso Way Tigard OR 97223  Security Trust Mortgage, Inc.

This isnt to bash my competition, but I would be wary of anyone trying to give you solid or accurate rate/fee quotes without having an entire loan application and information. I dont think they can do it. It could waste a lot of your time and maybe drop your score.  Please call or email with any questions about this. Yours, Marvin Von Renchler
503-620-1758