Guide | Home Buying
A Q&A with Vanderbilt Mortgage and Finance, Inc
We are Vanderbilt Mortgage and Finance, Inc., a mortgage and finance company that offers a variety of loans for manufactured homes. Learn more about our passion for seeing our customers become homeowners and giving them resources throughout homeownership.
Welcome to our Q&A! We’ve created this so you can get to know us a little bit better and learn what we do as a mortgage and finance company. Check out our answers to the most common questions people have.
Who is Vanderbilt Mortgage and Finance?
We are a national housing lender, helping our customers achieve homeownership for over 40 years. We specialize in providing loans for manufactured homes. Our motivation and passion in being a mortgage and finance company is that we believe homeownership makes lives better. Our team members work hard to help our customers find the right home loan program that works best for their needs.
Why Choose Us?
At Vanderbilt, we care about your questions and dreams. We understand that the home loan process and becoming a homeowner can be intimidating. That’s why we start with you and stay with you - from that first inquiry to your last payment with us. We’re always by your side.
Where Are We Located?
We are located in the foothills of the Great Smoky Mountains in Maryville, Tenn. We carry the southern hospitality of our local community into our culture. We look for ways to give back to the amazing people that surround us. Our local presence is strong, but we also originate and service loans across the United States.
What Do We Finance?
Here are some our most common financing scenarios (availability will vary by state):
- New manufactured / modular homes from our retail partners
- Preowned manufactured / modular homes, plus homes with land from the inventory on vmfhomes.com – check out the website to see listings across the United States
- Preowned manufactured / modular homes and homes with land for owner-to-owner home purchases through our Direct Lending program
- Our Consumer Lending group offers a Home UpGrade Loan (HUG). This is for any home type that meets our criteria for primarily energy efficient upgrades. Check out the HUG webpage for more information.
What Types of Home Loans Do We Offer?
We have a variety of financing programs built to help our customers achieve homeownership. Whether you are a first-time homebuyer, have perfect credit or less-than-perfect credit, we’re here to help.* Learn more about our financing programs:
All loans are subject to credit approval and eligibility. Restrictions apply – contact us for details.
- Portfolio Home Loans
This is a loan option for homebuyers looking for an alternative to FHA manufactured home loans and is similar to a conventional loan. This is a non-government loan.
- Land & Home Mortgages Whether you own land or want to buy land for a new manufactured home, this loan option makes it possible to finance the home, land, improvements and fees all in one convenient payment. This loan program also allows you to finance a preowned manufactured home already set up on land.
- Biweekly Advantage
This loan option is designed to help you pay off your mortgage sooner. It works by paying half payments every two weeks, instead of one payment a month. Instead of paying 12 payments a year, you pay 26 biweekly payments. Be sure to ask your loan specialist about the availability and eligibility for this program.
- Fresh Start Home Loan This loan option is for our customers with less-than-perfect credit. We understand that unexpected things happen in life and sometimes you might just need a fresh start.
What is Our Home Loan Process?
At Vanderbilt, we are with you every step of the way. We try to make the home financing process as simple and stress-free as possible. Our home financing process usually includes the following steps:
- Complete the application online, at a home center or request a paper application through mail or email . For preowned, you can also complete an application over the phone with a Licensed Loan Specialist.
- A Loan Specialist from Vanderbilt will contact you regarding your application.
- Once your application is approved, you can monitor your application on the Express Portal.
- Pending your loan approval you can choose your home and once approved, you can start the process to close on your loan.
- Move into the home of your dreams!
- Receive support and follow up through our Vanderbilt Welcome Calls.
Who Are We Owned by?
We are a Berkshire Hathaway Company that offers a variety of home loan products.
Thank you for your interest in Vanderbilt Mortgage and Finance, Inc. We hope that this has helped you better understand what we do and how we can serve you.
We strive to provide all the information and guidance that empower our customers to become homeowners. Plus, we strive to provide ongoing support to help you manage your new life as homeowners with helpful resources. We are the finance company that proves homeownership is within reach. Visit our homepage to watch a quick video on our home loan process.
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