USDA Financing for Newly Manufactured Homes

Jul 30 2015

USDA ManufacturedThe Money Source offers USDA permanent financing on newly constructed manufactured homes!

Our dedicated team works together to provide Rock Solid Service. We are committed to our clients' success with this specialized product.

Highlights of the USDA Manufactured program include:

  • Trade in current manufactured home for credit towards a BRAND NEW home.
  • Roll in all costs including trade in balance and interim payoffs into the new loan up to the full appraised value.
  • Separate land and home contracts allowed to be financed with the same
    purchase transaction.
  • Appraisal can be completed by any FHA roster appraiser and does not have to go through an AMC.
  • Single-wide manufactured homes allowed (minimum 12 feet in width and at least 400 sq. feet living area).
  • Credit scores as low as 580 with max ratios of 29/41%.

For more information on the USDA program, please visit our website.

 

Topics: Correspondent Loans, Manufactured Homes, The Money Source, USDA Loan Program, USDA Financing for Manufactured Homes, Products and Services

USDA Loans At The Money Source

Jun 24 2015

USDA_TMS_Updated.jpg

Our committement at The Money Source is to form a partnership with our customers. One product we offer through this partnership is the USDA loan program. USDA loans are a part of the Government's Rural Development program.

The USDA home loan program is geared toward rural areas, with certain income eligibility requirements for applicants. At TMS, we follow RHS guidelines with no overlays and offer some niches for the USDA program, which include:

  • 100% financing, no down payment with 550+ FICO
  • Manual Underwriting acceptable
  • Higher DTIs acceptable as long as RHS approved
  • Manufactured Homes allowed on new construction purchases

If you want to find out more about how you can take advantage of our USDA program, fill out our Become a Partner page! You can also visit our website for more information on The Money Source.

The Money Source Inc. is not affiliated with or acting on behalf of or at the direction of the Department of Housing and Urban Development or the Federal Housing Administration, or the Federal government.

 

Topics: USDA Loans, Homeownership, The Money Source, Grow Happiness, USDA Rural Development, USDA Loan Program, The Money Source Inc., TMS correspondent, Products and Services, Pink Unicorn

Follow Us

Twitter Facebook LinkedIn

Posts by Topic

see all