How to Apply for a Pre-Owned Home with Connect Lending

Applying for a home loan is a pivotal step. It takes you from dreaming about owning a home to providing the means for homeownership. Our goal at Vanderbilt Mortgage is to make the process as easy as we can and to be a helpful resource for you.

Vanderbilt Mortgage can finance mobile, modular or manufactured homes, both new and pre-owned. While the application itself is similar, there are some differences between both. Terms and conditions for the loans may differ, and the way you apply can also vary.

If you are looking to finance a pre-owned mobile, manufactured or modular home sold by an individual owner (or through VMFHomes.com), Vanderbilt’s Connect Lending group will be the ones to help you through this process. This group offers loans for home only or land home purchases. If you have a home picked out, you can request a pre-approval for the amount needed for purchase or you can request a max approval. (A max approval is the most we would be able to loan you.)

Ways to Apply:

• By Phone – You can call 1-866-491-0189 to speak with a licensed Loan Specialist who will take you through the application and fill out your information based on your answers over the phone. They can also help with related questions and submit your application for decisioning. Phone applications typically take about 15 to 20 minutes to complete. You can have up to two applicants on the application. Everyone who will be applying must be available at the time of the call.
• Online – You can access our application at vmf.com. There you can sit down for an allotted time and complete your application at your own pace. As a helpful reminder, the application cannot be saved and retrieved to be finished at a later time, so you will want to have at least 15 to 20 minutes set aside to fill this out.
• By Mail – All you need to do is call us to request a paper application, or you can download one from our website. These applications can also be emailed or faxed back to us as well.

Once your application has been submitted, a Loan Specialist will typically contact you within one to two business days to discuss your options.

Tip: Gather your documents needed for verification and organize them into a folder before you start filling out an application. This way you are prepared to provide what is needed.

Here’s a list of items you might need throughout the loan process:

• Social Security number, email and current residential address
• Monthly expenses: what you spend on clothing, gas, groceries, healthcare, child support and alimony
• Gross income information and employment history

These requested items are for you and anyone else who has applied with you. There may be other items needed, and our team will keep you updated on if we need any additional information.

Why Pre-owned?

While brand new homes are a great option for home ownership, sometimes the timeline isn’t right for you, or you may not have the land for a new home.

Purchasing a pre-owned mobile, manufactured or modular home gives you the opportunity to purchase affordable housing that is typically already set up and ready to go. This means no waiting period for it to be moved or built.

If you do have your own land already and are interested in a pre-owned home, check out VMFhomes.com to see what homes we have available in your area. Homes listed as “home only” and include the “apply now” button on the website can be financed with Vanderbilt. At this time, we can help coordinate moving and setting up these homes on your property.

If you feel ready to apply – go for it! Or if you still have questions or need clarification, we’d love to help you. Either way, we wish you the best as you pursue homeownership.