Guide | Home Buying
What is a Portfolio Home Loan?
A portfolio home loan is a conventional home loan that is a simple, fairly quick option for homebuyers looking for a loan product that is not insured or guaranteed by the government.
A conforming conventional mortgage meets the requirements of Fannie Mae and Freddie Mac while a non-conforming conventional loan does not. The Vanderbilt Mortgage non-conforming portfolio loan program determines interest rates bases on your credit history, the amount of down payment, the size of the loan, and whether land is involved or not as well as other factors. We finance home only purchases (chattel loans) or finance the home purchase along with the land where the home is to be placed. We can also accept the use of land that you own in lieu of a cash down payment if the land meets value requirements and is free and clear of all liens. All loan programs are subject to credit approval.
Complete our fast and secure online application to find out if a portfolio home loan program is right for you. A Vanderbilt representative will contact you to get you started with the home loan process so you can be one step closer to homeownership! Check out our Guide to Home Financing to help make your dream of owning a home reality!
If you have questions about the steps of the manufactured home loan process, check out our home loan roadmap for a quick breakdown for each step!
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