There are a number of mortgage lenders for mobile homes, including Vanderbilt Mortgage, Country Place Mortgage and 21st Mortgage. These companies all focus heavily or, in some cases exclusively on mobile home mortgages. Each mobile home manufacture and seller have preferred companies they work with, and these can vary by location.Continue Reading
Each mortgage company has its own programs and loan requirements that need to be met for a potential customer to be approved. Vanderbilt has an FHA program that helps users get into homes with lower down payments. The cost and these types of programs can often make a mobile home a more viable option for people who are in a low-income situation or are looking to buy a first home without having to invest as much money right at the start.
Vanderbilt also offers a unique bi-weekly payment plan that allows more of the owner's money to go toward the principle and get the loan paid off early. Companies such as Country Place or 21st Mortgage work all over the country with a large number of mobile home makers and retailers. 21st Mortgage and Vanderbilt's main offices are located in the southern part of the United States, where there is a large number of mobile home sales and manufacturers.Learn more about Credit & Lending