Q:

How do you apply for 21st Mortgage products?

A:

Quick Answer

To apply for a 21st Mortgage product, visit the company's website at 21stMortgage.com. Select Apply for a Loan from the menu, and choose the online application option. Select the desired loan product, and complete the application online. Customers have the option of applying for a loan to purchase a home from an individual, manufactured home community or manufactured home dealership, according to 21st Mortgage Corporation.

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Full Answer

Customers can also apply online for a loan to purchase a repossessed home directly from 21st Mortgage or another lender, or to purchase a HUD foreclosure, reports 21st Mortgage Corporation. Customers wishing to refinance a manufactured home or refinance a manufactured home and buy land can also apply for a loan online.

To begin the application process, an applicant must have information about the home he wishes to purchase including the home's make, model, dimensions and year. In addition, the applicant must have the down payment amount, the purchase price or refinance amount, and the property address to apply for financing. To receive a loan from 21st Mortgage for a singlewide or doublewide home, the home does not have to be on a permanent foundation, explains 21st Mortgage Corporation.

The maximum loan to value for a loan product with 21st Mortgage is 95 percent, states the company's website. Homebuyers may finance closing costs into the loan or use seller concessions. The loan-to-value amount and down payment amount vary depending on the buyer's credit quality and collateral type. 21st Mortgage also considers loan affordability and occupancy type when determining these amounts.

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