Manufactured Home Loans

Mobile Home Loans

Manufactured Home Lender and Mobile Home Loans specializing in manufactured and Mobile home loans. We provide the most competitive rates for affordable housing, whether you’re buying for the first time or looking for a better refinancing program

LOAN APPLICATION  QUICK APPLY

When seeking a Manufactured Home Loan or a Mobile Home Loan, look no further than CambridgeHomeLoan.com for unparalleled financing solutions tailored to your needs. Our comprehensive range of manufactured home loan options ensures swift access to capital for bridging financial gaps to give you time to maximize your income. 

manuractured home financing

Our manufactured and mobile home loan programs include:

• Fixed rates loans
• No pre-payment penalties
• No land required
• Financing for homes located within a Park or Community
• Financing for new and used manufactured homes
• Permanent or nonpermanent foundations
• Primary, Secondary, Investment, and “Buy-For” (purchase for someone else)
• Closing costs and most third party fees may be financed
• Used Manufactured Homes (person-to-person) type transactions must be ready for immediate occupancy. Move‐In Ready condition at permanent location required. No Rehab loans available or financing available for homes that have to be moved.

Mobile Home Financing – Manufactured Home Financing

Manufactured Home Loans Q&A

Q. Do you offer pre-qualifications?

A. Our home loan application is very streamlined, we can provide a pre-qualification in just a few minutes after receiving an application and a few documents. 

Q. Do you offer manufactured home only and land & home financing in my area?

A. We offer financing in 46 states. Only loans in AK, HI, MA, and RI are excluded for Manufactured and Mobile Homes. We also do not offer land & home loans in the following IL counties: Cook, Kane, Peoria, and Will.

Q. What is the minimum home loan amount you provide?

A. For homes purchased from a Retailer or from an existing 21st Mortgage customer, we have a minimum loan amount of $20,000. For homes purchased from another individual or refinanced, the minimum loan amount is $25,000.

Q. What is required for a home loan down payment?

A. Home loan down payments as low as 0% are available for well qualified buyers. Typical down payment requirements range from 5% to 35% and are based on overall credit profile of the buyer, collateral type (home type, home placement, etc.), and occupancy type (i.e. primary residence, secondary home, etc.). Investment properties and “Buy-For” transactions require a minimum of 20% down payment. Home loan down payments may be in the form of cash, trade, or land equity.

Q. What are your current interest rates for home loans?

A. Our rates typically range from 8% to 14% and are based on the overall credit profile of the applicant, age of the home, collateral type (i.e. home type, home placement, etc.), occupancy type (i.e. primary residence, secondary home, etc.), loan amount, and loan to value. Want more specifics? Check out our Payment Estimator!

Q. What are your maximum loan terms for manufactured home only and land & home loans?

A. We offer terms up to 30 years on new and used Land Home loan products. Additionally, we offer terms up to 25 years on new and used Home Only loan products. Investment properties are limited to 10 year terms.

Q. Do you have a minimum credit score requirement?

A. We do not have a minimum credit score for most manufactured home only and land & home loans. For applicants scoring less than 575 and for “zero credit score” buyers, we have “equity loan programs” available that may require higher down payments – usually a minimum of 35% in the form of cash, trade, or land equity.

Q. Do you have a maximum Debt-to-Income (DTI) ratio?

A. We do not have a maximum debt ratio on any 21st Mortgage portfolio loan. If your DTI is above 43%, there may be additional documentation requirements.

Q. Do you have restrictions on age of home?

A. We have no restrictions for the age of the home.
 

RENTING VS BUYING COMPARISON

renting vs buying comparison

CAMBRIDGEHOMELOAN.COM MOBILE HOME AND MANUFACTURED HOME LOANS

cash out refinance

Fast Approvals

Streamlined Underwriting

Approval in 24 Hours

Close in as little as 3 days

Manufactured Home Loans

Reliable Partner

In House Capital

30+ Years of Experience

Direct Private Lender

Manufactured Home Loans

Easy Process

No Appraisal Required

Tax Returns Not Needed

No Minimum Credit Req.

The Home Loan Process

FINANCIAL SELF-ASSESSMENT AND PREPARATION
Create a Budget: (Refer back to page 1) Assess your monthly spending habits. Add up total monthly bills and subtract it from your monthly income.  Do you have enough left over for a new payment?  Assess Your Credit Score: If your credit score is lower than you would like, work toward building up your credit. Develop a Savings Plan: Saving a small amount every month for a year is a good way to save enough for a down payment for your dream home. If you have any questions on credit or budget reach out to CambridgeHomeLoan.com.

2 SELECT YOUR HOME
Select your dream home Sign a purchase agreement with the seller Your processor will order a home appraisal if needed and will provide you with a copy of the appraisal SATISFY LOAN CONDITIONS Submit all information requested on your approval notice to your MLO Generally, information requested consists of proof of employment, income verification and the source of any required down payment Once all required information requested are approved by your MLO, CONGRATULATIONS! You’re approved and are ready to close on
your loan 

3.APPLY FOR A LOAN
Documents typically needed to complete a home loan application might include:
Proof of Income: most recent paystubs
Proof of Employment: past 2 year history
Proof of Residency: current street & mailing address
Proof of Identity: current driver’s license or state
issued ID & social security card

4 ORIGINATION AND UNDERWRITING

Origination: When you submit your credit application, a mortgage loan originator (MLO) will review the loan request. If an approval can be issued, the MLO will contact you to discuss the terms of the approval and explain any required conditions. If the application cannot be approved as requested, the MLO will advise of any other options to help get you approved. Underwriting: Credit risk is determined based on credit score, income, existing debt, down payment and the current principal/interest payment, along with taxes and insurance.

5. APPLY FOR A LOAN
Documents typically needed to complete a home loan application might include:
Proof of Income: most recent paystubs
Proof of Employment: past 2 year history
Proof of Residency: current street & mailing address
Proof of Identity: current driver’s license or state issued ID & social security card

6 CLOSING

The final step of the home loan process 
Titling is finalized with the title company
Closing documents are signed
Closing costs are paid

Investment Loan Products
Mortgage Loans Built for Real Estate Investors

Whether you buy and hold, fix and flip, or build to rent,cambridgehomeloan.com has the capital for your investment needs
The nations #1 Lender for Fix and Flip and Fix To Rent Investment Loans
Fix & Flip Loans 90% LTV and up to 100% of Rehab costs. 

Fix To Rent Loan DSCR Loans

    • 1-500+ properties

    • Single-family, 2-4 units, condos, townhomes, multifamily

    • Up to 3 year Bridge Loans

      • Refinance & Cash Out Up to 40yr Amort.

    • Up to 100% of rehab

    • Up to 75% of completed value

    • $70,000 – $250 million

Fix And Flip Loan Rehab Loans

    •  
    • Single-family, 2-4 units, condos, townhomes, multifamily


    • 12 To 24 month terms

      • Up to 90% of Purchase Price 

    • Up to 100% of rehab

    • Up to 75% of completed value

    • $100,000 – $200 million
      BRRRR Loans

       

Multi-Family Bridge Loan /
Commercial Real Estate

        • 1-1000+ properties

        • Multifamily, Mixed use w/ majority residential
        • Ground Up Construction

        • 12, 24 mo., 5,10,30,40 year terms

        • Up to 100% of Cost

      • $1M – $250M

      • Bridge Loans, Construction Loans,
        Permanent Loans, Refinance, Cash Out Refinance Loans,