Non-Prime loans are also known as temporary or fixer loans for borrowers who are on their way to Prime but need a little help before they qualify. Non-Prime loans characteristically are made to borrowers who have had a past credit event or events in the form of Foreclosure, Bankruptcy, Short Sale, late payment, collection, charge-off, etc. Additionally, a borrower seeking a Non-Prime loan can use alternative documentation to qualify, in form of bank statements, liquid assets, and other forms of income not typically accepted by government lending criteria.

Non-Prime loans usually have increased rates of interest and costs for providing access to capital while providing the ability to participate in the economy and housing market. Non-Prime loans should only be looked at as a temporary solution to an immediate need.

Non-Prime loans are also known as temporary or fixer loans for borrowers who are on their way to Prime but need a little help before they qualify. Non-Prime loans characteristically are made to borrowers who have had a past credit event or events in the form of Foreclosure, Bankruptcy, Short Sale, late payment, collection, charge-off, etc. Additionally, a borrower seeking a Non-Prime loan can use alternative documentation to qualify, in form of bank statements, liquid assets, and other forms of income not typically accepted by government lending criteria.

Non-Prime loans usually have increased rates of interest and costs for providing access to capital while providing the ability to participate in the economy and housing market. Non-Prime loans should only be looked at as a temporary solution to an immediate need.

What Is A Manufactured Home Loan?

Manufactured home loans are designed for factory-made homes built on a permanent chassis, and generally come in single or two-section units. This option offers various types of loans for homebuyers: FHA, VA, and conventional loans. Our Licensed Mortgage Brokers are ready to assist you at (888)416-0920.

What Are The Advantages Of A Manufactured Home Loan?

They may be small homes, but don’t be fooled – they come with big benefits. If you’re considering a ditech manufactured home loan, these are some of the advantages:

• Manufactured home loan rates are affordable
• You can choose between a conventional, FHA, or VA loan
• Down payment options as low as 3.5% for FHA and 5% for conventional
• Manufactured homes are environmentally friendly

The Requirements Of A Manufactured Home Loan

To find out if a property qualifies for a manufactured home loan, it makes sense to seek the advice from a lender, like us. But here are some general guidelines:

• The home was built on or after June 15, 1976
• Has no wheels and is designed as a single-family dwelling
• Has a minimum of 400 sq. ft. for an FHA mortgage
• Has a minimum of 600 sq. ft. for a conventional loan
• Is permanently affixed to the property site for more than 12 months
• You have a credit score of at least 580 for an FHA or 620 for a conventional (Other restrictions may apply, depending upon product and State.)

If you like small home living, or If you’re a renter and want to take the first step to homeownership, a manufactured home loan could be right up your alley. A Home Loan Specialist can give you more information on manufactured home loan rates and whether this loan is the right option for you.

Apply Now or Call (888)429-6601

The reverse mortgage for purchase allows you to purchase a home with a reverse mortgage and not make a monthly payment for as long as you live in the home.

two loan options for your clients seeking financing for mobile home parks.

Program 1 – For borrowers with a high credit score looking for a low rate

• $1M minimum loan amount
• Low 5 year fixed rates
• 5, 7, 10, 12, 15 and 30 year fixed rate loans
• 30-year amortization, often with initial interest-only term
• Flexible prepay available
• Non-recourse
• No tax returns required
• 85% occupancy and credit score of at least 650 required

Program 2 – For borrowers looking for more flexibility

• Loan amounts from $200K – $5M
• Low Rates
• 5, 7 and 10 year hybrid loans, 30 year amortization
• No tax returns or bank statements programs available
• LTV’s up to 75%
• Credit Score 550 (500 case-by-case)