MH Loans

Home/MH Loans

Buying a Manufactured Home Without Land ?

Your exausting search is finally over!

Manufactured Home financing is a highly specialized field. To do it right, to do it fast, requires a detailed knowledge of how these transactions work. We’ve been successfully helping our clients since 1987. Waco Financial finances singlewide and doublewide homes in mobile home parks, on leased lots, family land and in most any situation where the home will not be deeded as real property. Many times this includes families who wish to buy a manufactured house and place it on their land until they can build their dream home later on.

If you are like most homebuyers, you will require a loan to purchase your new or pre-existing home. We realize that everyone’s situation is unique, but there are some industry guidelines to get a feel for what you can borrow.
If you exceed these limits, by no means does this determine the outcome of the loan.

If you have found a home that you like and are now seeking a home loan, you have likely already discovered that there is some difficulty finding a local bank willing and able to handle this type of property. Most of our customers tell us that they are so relieved to have found someone who can help after everybody has told them no.

We will work with you to determine your budget guidelines, down payment requirements and determine the monthly payment you feel most comfortable with. We will then translate that monthly payment into a selling price of a home. There is absolutely no obligation on your part if your loan is approved.

Previously Owned and New Home Financing without Land

  • MINIMUM CREDIT SCORE TO APPLY IS 700
  • MUST BE OWNER OCCUPIED
  • SINGLEWIDE HOMES MUST BE TITLED 15 YEARS OLD OR NEWER
  • DOUBLEWIDE HOMES MUST BE TITLED 1977 OR NEWER
  • Minimum 5% Downpayment (lower rates apply with 10% or more down)
  • Full income documentation required for all mobile home loan programs
  • MINIMUM LOAN AMOUNT IS $10,000

*Specific Rates and Terms are subject to the year of home, credit rating and loan amount.

This is a basic overview of our programs and not all aspects can be addressed here. We will be happy to discuss each loan or potential loan on a case by case basis. We appreciate your interest in our manufactured home programs and look forward to hearing from you. Your manufactured home financing search is finally over!

MB801695.000