If you are shopping for a manufactured or modular home, you may want to consider the amount that can be saved by purchasing a pre-owned home from an individual owner or realtor. We offer many programs for financing pre-owned modular or manufactured homes that are simple and easy.
There are many things to consider when financing a modular or manufactured home. The down payment, term of the loan, type of interest rate, closing cost and repayment terms are just a few of these items.
The Vanderbilt Mortgage advantages include:
Fixed Interest Rates
With fixed interest rate loans, your payment will never fluctuate due to interest rate changes in the mortgage lending market. You can budget with confidence over the entire term of the loan. No balloon loans available. Down payments as low as 5%
Down payments vary depending on each individual’s credit. 100% financing is not available.
Locate The Home For Your Convenience
The manufactured home does NOT have to be on a permanent foundation. Whether the home is located in a park, community, leased land or private land, Vanderbilt can assist you with financing. Modular homes have a permanent foundations and cannot be relocated. Fixed Term Mortgages
We offer terms up to 25 years on multi-sectional homes or 15 years on single-sectional homes with no balloon payments.
Closing costs
All closing costs can be financed into the loan to keep your out-of-pocket expense low at the time of purchase.
No Prepayment Penalties
You can pay off your loan at any time with no penalties of any kind.
No Application Fees
Smart Mortgage
With our Smart Mortgage loan program you make bi-weekly payments through automatic bank drafts which save you thousands of dollars in interest over the term of the loan.
Mortgage Insurance
Mortgage insurance is not required on any of our loans.
To
get more information or to speak with a loan analyst, you may
contact us via online links or call
1-800-738-2127.
