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Retail Loan Programs

Manufactured, Modular, Mobile, With Foundation or No Foundation OK,

With Land or No Land OK, In-Park OK, Mobile Home Parks, Manufactured Parks, Urban or Rural, Residential, Commercial, Multi-family, Industrial, Mixed Use, Agricultural, Bad Credit or No Credit OK., Purchase, Refinance, Cash-out, Multiple Properties Same Loan, Bridge Loans, Stated No Doc

Loan Program no. 12nc


Number of rooms: 5 w/ 3 Bedroom 2 Bath  kitchen

Size: 750 square feet

​Rental Rates: $974 per month

Purchase Price: $117,000

Borrower was purchasing an investment manufactured home in a mid size park. Recent divorce ruined her credit score so the bank turned it down. In less than 12 days we came in and closed with our no credit score program allowing the borrower to own her third unit in the park. The borrower is already looking for more units to buy.

Loan Program Guidelines Updated
  • Loans are available only in the following states: CA, TX

  • Loan Amount – minimum loan amount required is $25,000

  • Down Payment Requirement* – as little as 30% of the purchase price

  • Eligible Occupancy: Non-Owner, Investment, Second Home, Vacation Development, Business Purpose, Rental

  • Allowed Transaction Types: Purchase, Refinance, Cash-out, Construction, Development

  • Not Eligible Occupancy: (Owner-Occupied, Consumer Use)

  • Credit Score Requirements – No minimum credit score required.

  • Bank Repossessions/HUD Foreclosures – We do not provide financing for foreclosed or repossessed properties that are being purchased from another lender, including HUD.

  • Documentation Type Qualification:  Stated Income programs are available. Ratios are calculated by dividing your total debts by your income and multiplying the result by 100. This general value should not exceed 45%. If this ratio is greater than 45%, then additional analysis must be performed and criteria met.

  • Collateral – We may lend up to 70% of the overall home and/or land value if available. Credit quality, loan affordability, occupancy type, and collateral type will ultimately determine your loan-to-value or down payment requirement.

  • Age of Mobile Manufactured Home – The mobile manufactured home has to be built on or before June 15, 1976.

  • Escrow: Depending on transaction type.

  • Loan-to-Value Ratio is calculated by dividing the Unpaid Balance of Cash Sales Price by the Total Package Value. Maximum 70%.

  • Mortgage Insurance – not required on any of our loans.

  • Terms: Purchase, refinance and cash-out terms range from 12 months to 24 years. Constructions can be 6 -12 months.

  • Interest Rates:  depend on overall credit quality, age of home, collateral type, location, occupancy type, loan amount, and loan-to-value ratio.

  • Interested Rates, Loan Programs and Guidelines can changes at anytime without notice. Please call us if you have any questions..

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Or call 800-LOT-1034 to speak to your local account executive now.

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