MOST FREQUENTLY ANSWERED QUESTIONS

Q. Do you finance or refinance single wide or double wide homes in parks, on leased, family
land, or land where the deed or mortgage is separate from the home?
A. Yes!  These are "home only" or "Chattel" loans, and we offer excellent rates and terms for
purchase or refinance.
Q. Do you finance or refinance homes with land tied by way of deed or mortgage?
A.  Yes!  In most states purchase and refinancing is available, sometimes with extra equity
cash available for debt consolidation or home improvements depending on the homes value.
 Certain conditions apply.
Q. How do I save money by refinancing my home?
A. First, we try to provide a lower interest rate.  Also, you may wish to shorten the loan term
which often saves thousands in interest over the life of the loan.
Q. What do I need to qualify?
A.  Verifiable income with consistent employment history.  Self-employed borrowers need
two years tax returns showing sufficient income.  While all credit is welcomed, certain
guidelines apply.  Every situation is different. The loan type depends on several factors:
Year, Make, Value of Home; Land Value; Credit of Applicant and Monthly Income; Employment
History; and Total Debts.
Q. What are the down payment requirements for purchases?
A. At least 5% of the purchase price, with better rates for higher down payments.   Also, the
shorter the term, the better the rate and the greater the savings.
Q. I want to purchase a home from a dealer and place it on land I own or wish to buy.
A. Constructions loans for this purpose are available in many states.
Q. Is the age of the home a factor in getting a loan?
A. Yes.  The home must be newer than 1977 in most cases to get a lower interest rate.  The
newer the home, the more likely equity cash will be available.
Q. What does it cost to apply or get a quote?
A. There are NO application fees, and quotes are always free!

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