• Do You Need Money Fast?
• Maybe You Would Like To Consolidate Those High Rate Credit Cards?
• Perhaps You Just Need A Lower Interest Rate & Lower Monthly Payment? 
• Are you Fed up With the Big Banking Neglect of Mobile & Manufactured HomeOwners?
• Maybe Your Just Tired Of Hearing Your Credit isn't Good Enough, Your Home Is Too Old Or You Don't Earn Enough Money?
• Are You Tired of Yes, Yes, Yes Until "they" Find Out Your Home Is A Mobile Home?

Then MobileHomeLoan.biz is for you! We are one of a select few lenders in the United States who actually makes mobile & manufactured home loan financing & Refinancing their only lending priority.

Whether you have have great credit, good credit, fair credit or really bad credit, MobileHomeLoan.biz will move mountains for the right to service your mortgage loan.

MobileHomeLoan.biz refinances & finances any year mobile home, any credit score, any home location, any size mobile home and any employment situation, including the long neglected self-employed, those on Social Security, dsability or even un-employed.

     Why MobileHomeLoan.biz?

MobileHomeLoan.biz prides itself on loans just for the mobile home owner, a home owner long seen by big banking as less than desirable. We are a proud AAA member of the Better Business Bureau, a member of most states manufactured housing institutes & a stern voice for positive change  within all divisions & areas of the manufactured housing industry, including  rent control, greater financing opportunities,  no money down new home purchase programs  and bad credit 2nd chance options.

             What Sets Us Apart?

Before MobileHomeLoan.biz became the #1 source for Manufactured home owners, mobile home buyers took whatever the bank gave them & really didn't have much to say about it. There weren't many lender choices & less options for loan programs. Those days are gone for good! We are the pioneers of low rates, low closing cost manufactured home loans, no money down mobile home purchase programs, pre 1976 financing, stated income lending & bad credit mobile home refinancing.

      Our Company Philosophies

• Give more than they expect then give some more!
• It takes months maybe years to find a client and mere seconds to lose one.
• Don't worry about what the competition is doing...worry about what we're doing.
• Lead don't follow...the view is better there.
• Missing the opportunity to convey that we want the business is missing the opportunity to shine.
• Never address someones home as a trailer.
• Low rates, low cost, great customer service & speed.
• Perfection is our  goal; excellence will be tolerated.

MobileHomeLoan.biz Has the Lowest Rate & Lowest Cost Mobile Home Loans In the Nation. We Won't Be Beat!

     So What Are You Waiting For?

          Call us at (866)9WE-REFI

                      Or Apply Online      

           Credit Not So Good?         

MobileHomeLoan.biz understands that most bad credit manufactured home owners need a second chance in getting loans. Our poor credit manufactured home loan specialty division daily facilitates a number of bad credit mobile home loans; in fact most other lenders bring these bad credit manufactured home financing & refinancing packages to us. We have a decade of experience with bad credit manufactured home lending.

MobileHomeLoan.biz Will Refinance Your Manufactured Home Loan For Any imaginable reason...Including:

• Stop Forclosure
• Stop Nagging Creditors
• Eliminate High Interest Tax Leins
• Consolidate Loans Into One Payment
• Pay Off Credit Cards
• Buy a New Car
• Make Home Improvements
• Home Remodeling
• Take a Vacation
• Bank Some Reserves for Hard Times
• Start a New Business
• In Fact...Anything You Dream Of

         Our 2-Step Guarantee

MobileHomeLoan.biz understands that your credit won't always be in bad shape. We also understand that in most cases paying off all your bills will actually cause your credit scores to go much higher. That's why we offer a one of a kind 2 step refinance gurantee. Our 2 step offer is our written pledge that we will reprocess your bad credit manufactured home loan as soon as your credit allows.

  No Pre-Payment Penalty Option 

To further show our resolve to the bad credit community, MobileHomeLoan.biz has pioneered  no pre-payment penalty poor credit manufactured home loans. With a no pre payment penalty bad credit mobile home loan, you are free to refinance to a lower rate and payment as soon as your credit and situation allows. We believe in long term relationships and that begins from the first loan.

                Reparing The Bad Credit

MobileHomeLoan.biz can help you re-establish your borrowing credit for future manufactured home loans by simply giving you the tools to challenge negative items on your credit report. We can also help you contact creditors who wrongly state the information on your report. We have a decade of experience in helping people fix their FICO scores to once again put you in the preferred borrowing position.

                  Choosing The Right Loan

MobileHomeLoan.biz needs to choose the right loan for both you and your family. We can look at great credit mobile home loans, bad credit mobile home loans, or somewhere in between; options like interest only, minimum payment, debt consolidation, unlimited cash and thirty year fixed programs to name a few.

               MobileHomeLoan.biz

         Our Business Is Manufactured Homes

                    866-9WE-REFI

Loans for mobile homes are “consumer loans” not “real estate” loans and are treated as such by each state. There are no special programs for borrowers such as “First Time Home Owners” or “Veterans.” However, when purchasing a brand new mobile or manufactured home from a dealer, we do have a "no money down" purchase program.

Loan Approvals are issued in a different manner than conventional real estate. In conventional real estate a borrower is approved for a specified dollar amount and then looks for a home within those parameters. With mobile homes the borrower must first find a home and then the approval is issued for that specific home only. Therefore on a purchase we will need the purchase contract ahead of time.

In June 1976 HUD (Housing and Urban Development) instituted regulations for the manufacture of mobile homes. Thus, homes built June, 1976 or before are called “Pre-HUD” homes and those built after are “HUD.” Pre HUD homes have, in most cases, less value & security of a HUD home and are more difficult to lend upon. LoanJunction is one of just a handful of lenders who loans on these homes.

Generally, homes built 1970 or after can be financed in California & Florida whether in a park or on land, on or off a foundation. Single wide homes over 15 years old are more difficult to  be financed. Please call ahead to verify if your state is one of the participating states allowing pre-hud financing(310-534-2041).

Down payments. There are no “0” down programs(except for New Manufactured homes). Down payments are dependent on age of home and FICO score. Pre-HUD homes normally require a 20% down payment. FICO guidelines for HUD homes: 700+ = 5%, 660 to 700 = 10%, 630 to 660 = 20%, 600 to 630 = 30% or 40%, below 600 = 40%, 50% or more. These are guidelines only and can vary depending on circumstances.

Interest rates. In general, rates are higher than conventional real estate rates. The age of a home will often determine the rate and Pre-HUD homes carry higher rates than HUD homes. Of course, other factors, such as FICO scores and DTI will affect rates. At the present time, rates can be as low as 7.5% and as high as14-15%.

FICO (Fair Isaac) credit scores. We use Experian credit reporting agency and their scores can be between 450 and 850. In general, a score below 600 will disqualify a borrower, however occasionally a lower score can be approved with a large down payment and other extenuating factors. Click here for an informational PDF document explaining FICO. Please call ahead for private money funding in which equity not FICO is the determining factor(310-534-2041 ext 107)

Stated Income is designed to allow those who have income that is difficult to verify such as self-employed to qualify for a loan. Applicants are not required to prove their income but it requires a 620 plus FICO score and a minimum 10% down.

DTI (Debt to Income ratio). Sometimes called “Back End Ratio”, this refers to the percentage of borrowers gross monthly income required to service all contractual obligations. Normally, the maximum allowed is 45% but sometimes that can be increased with a large down and/or a high FICO. When determining the DTI always include the estimated payment for tCreated on 9/23/2005 4:01 PMhe new home plus the space rent. Example: Gross monthly income = $3000. New home payment $700, space rent $500, auto payment $450, credit cards minimum payment $300. Total contractual payments = $1950. DTI ($1950 divided by $3000) = 65%. In this case, the maximum allowed is 45% so this borrower would not qualify.

Combining incomes to meet the 45% DTI requirement. Although any person can be added to the loan as a Co-Applicant, in most cases only husband and wife can combine their incomes to satisfy the DTI. In certain rare instances two relatives who have established credit together over several years can combine incomes. All others must stand alone.

HR (Housing Ratio). Sometimes called “Front End Ratio”, this is determined by the lender and usually ranges from 30% to 35%. It is calculated by adding the new home payment to the space rent and dividing the total by gross monthly income.

Term. In general loans are for 15 or 20 years depending on factors such as down payment, FICO score and age of home. Occasionally, higher loan balances will qualify for a 25 year term.

Applications. We require no paperwork prior to obtaining an approval. The 10 minute application can be taken over the phone, faxed in or filled out online. Usually we can give you an answer in 2 to 3 working days. Applications must contain the complete home information.

Processing It usually takes 3 to 4 weeks after borrowers acceptance of the approval to gather the required documentation, process through escrow and then be funded by the lender. If it takes longer, or if the approval expires (45-90 days), it is almost always caused by the failure of the borrower to provide the required documentation in a timely manner.

Comparable Sales All sales of mobile homes in California are required to be reported to the State. The State compiles lists of these sales by Park showing first sold price, last sold price, date of sale and age and size of home. These lists are called “comps” and appraisers use this information in determining the value of a mobile home. In states where comps are not available the appraiser must rely on the “book” value of the home. The “book” is compiled by the N.A.D.A. (National Automobile Dealers Association) and is similar to the “Blue Book” for autos.

LTV (Loan to Value). Most loans require an appraisal and usually the bank will stipulate the LTV after reviewing the appraisal. The amount of loan approved by the bank is almost always subject to the lesser of the sales price or the appraisal including the comps report. 90% of appraised value is common.

Decal Number is equivalent to a license plate on a car and it is important because both the bank and the escrow company use it to search title. It can often be found on a plate attached to the front or back of the mobile home and on the Title and Registration of the home. The decal number consists of three letters and four numbers and usually starts with an “A” or “L.” Example: ARW2798 or LGB7035. In some rare cases the decal will start with “JP.”

Refinancing. Both Rate/Term and Cash Back (debt consolidation) require at least a 640+ FICO score. Two refinance programs are available depending on FICO score. The first will finance no more than 80% of the original purchase price. (Not the current appraised price) while the second will finance up to 65% of current appraised value. Also, in most cases, the bank won’t return cash to the borrower; they will pay third party debt only

Remember the aforementioned guidelines are merely "guidelines." Each transaction is a unique endeavor and underwriting seeks to fund every possible loan. LoanJunction.com understands the need for appropriate financing for mobile homes and in most cases we will seek to get your client an exception when possible.