Modular Homes

An excellent choice…Modular Homes are a cost-effecative and customizable alternative to traditional site-built homes. Constructed in factories, they adhere to the same building codes as traditional homes with the advantage of added quality control. They can be designed to be energy-efficient, resulting in long-term savings on utility bills.

  • Constructed in a warehouse environment, transported to the home site, and then put together at the site on a permanent foundation. 

  • They are considered the same as “stick built” homes for financing, therefore, they can be financed utilizing virtually any loan type. 

  • Home are constructed in a warehouse environment and transported to the site in sections. They are constructed or put together at the site on a permanent foundation. 

  • They are considered the same as “stick built” homes for financing, therefore, they can be financed utilizing virtually any loan type.   

Manufactured Homes

Home has a chassis, transported to the site, initially registered as a vehicle until placed on a permanent foundation and taxed as real property

Government (FHA, USDA, & VA)

  • 30, 20, or 15 year fixed rate.

  • 620 minimum credit score.

  • Not permitted on housing loans.

  • Must be a multi-width unit, no single width homes allowed.

  • May not be in a leasehold estate; in a “Park".

  • Home must have been permanently affixed for a minimum of 12 months.

  • HUD Certification Label required.

  • Escrow hold backs are not allowed.

  • Cannot be in a flood zone.

  • A current structural engineer report is required.

  • Down Payment Assistance programs are not allowed.

  • Max DTI 45% on FICO 620-659 with Approval

  • Max DTI 31/43 on manual underwrite with FICO score 620-639.

conventional

  • 30 or 15 year fixed rate.

  • 640 minimum credit score. All borrowers must have a Credit score.

  • Purchase or Limited Rate & Term Refinance

  • Purpose: Owner Occupied & Second Home.

  • 5% down payment. Borrower must make 5% minimum contribution from their own funds. After the minimum borrower contribution, gifts can be used to supplement down payment, closing costs, and reserves.

  • Non-occupying Co-borrower not allowed

  • Minimum 12' wide and 600+ square feet gross living area, no single width homes allowed.

  • Manufactured homes must meet minimum requirements.