Refinancing For Homes in Communities

Our manufactured home refinancing program can accommodate mobile home owners with sub-prime credit, stated income and even those whose credit score has been negatively impacted due to a unique occurrence. To keep payments low, the loan term can be stretched to 180 months. Conversely, if a home owner experiences a short term cash crisis we can offer "bridge loans" starting for one month or more. The only up front cost, to the manufactured home owner, is for the appraisal as Capital Management funds all closing costs. Owners may borrow up to 60% of the home’s appraised value, loans available from $10,000 to $100,000, 24 hour funding after all conditions are satisfied.

Capital Management is one of the only remaining lenders that can offer sub-prime credit refinancing to mobile and manufactured home owners.  Since we are funding by private investment we can provide refinancing options to mobile home owners that have been rejected by traditional institutions.  Below you find the benefits and terms of our mobile home refinancing options.

Benefits

• Improvements and/or debt reduction
• From proceeds, up to 50% for cash, balance for debt reduction
• Buy for's and 2nd homes
• Single wide and park (on leased land or purchased land) models
• Recent bankruptcy/foreclosure/walk away from current mortgage
• No credit or stated income
• No existing loan seasoning required
• 24 hour loan commitment subject to appraisal

L.T.V.

• 60%, with a minimum credit score of 660
• 55%, with a minimum credit score of 620
• 50%, with a minimum credit score of 580
• 50%, for cash out loans

Interest Rate & Term

• 11%-14%: 120 months
• 15%: 180 months w/60 mo. call

Fees

Origination & lender discount: 10 points (maximum)

• Processing and closing fees included in points charged
• Maximum 10 points for lender and loan originator

 Required documentation from loan originator

• Application (initial submission)
• Credit report (initial submission)
• Appraisal (buyer funds)
• Insurance declaration
• Verification of paid up taxes
• Verification of rent & lease
• Verification of income and assets
• Tax returns for stated income

Note: Above rates and terms are subject to change

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