Q. How does the process work?
A. The 'Start Application Process' button will take you to the log in page. If you have not registered with us before you will need to create an account to fill out an application. Once you have completed your application, a 21st Mortgage Loan Originator will contact you with a decision on your application.
Q. Can I save my application and finish it at a later time?
A. Yes! You can do so by selecting the 'Save & Continue Later' button that is located throughout the application. You may resume completing your application by logging into your account and click the 'Continue An Application' button.
Q. What is the "Save and Continue Later" button?
A. The 'Save & Continue Later' button should be used in the event that you wish to quit and continue the application at a later time. The information will be saved for 60 days. You have 60 days from the start of the application to complete it.
Q. How does 21st Mortgage protect my personal information?
A. 21st Mortgage takes stringent measures to protect your personal information because we know privacy is a concern for all consumers. Once you complete your application it is encrypted for transmission and then kept secure with industry-leading security servers.
Q. Who can I call if I have questions regarding the online application?
A. Please call (833) 809-3056
Q. Who can Brokers contact at 21st?
A. Contact information can be found here
Q. Does the home have to be on a permanent foundation?
A. No. We can do singlewide and doublewide homes with or without a permanent foundation. This allows financing for homes on rented land, in parks, on leased property or on family land.
Q. Can the customer get pre-approved for a specific loan amount?
A. No. All applicant(s) will need to have complete Home Information (Year, Make, and Dimensions), Purchase Price, Down Payment or Refinance Amount and Subject Property Address to begin the application process.
Q. What is the maximum loan to value?
A. Up to 100% LTV on a primary residence. Closing costs can be financed into the loan or seller concessions may be used. Credit quality, occupancy type, loan affordability, and collateral type will ultimately determine your loan-to-value or down payment requirement.
Q. What age of mobile home can be financed?
A. No age restrictions apply except for the following states:
AL: the mobile home must be 20 years of age or newer
ME: the mobile home must be 2008 or newer
MS: the mobile home must be 1999 or newer
NY: the mobile home must be 1995 or newer
Q. Is Homeowners insurance required and how much?
A. Yes. Full coverage homeowner’s insurance with 21st Mortgage Corporation as loss payee is required at all times. If you want to fully protect your home, coverage should include the current value of your home and improvements. This amount may differ from your existing loan balance. 21st Mortgage may accept a policy with coverage less than the loan balance if your loan includes financed non-insurable items such as land or land improvements. However, in the event of total destruction of your property, your insurance settlement may not pay off your obligation to 21st Mortgage. We suggest you consult an insurance agent of your choice regarding type and amount of coverage.
Q. Who orders the appraisal, title work, loan closings, etc.?
A. 21st Mortgage will order all necessary work on the loan. We will select the appraiser. The applicant may select the title company.
Q. Where do the loans close?
A. On a home only, the realtor or retailer hold the closing, or we will mail the documents directly to you. A notary must notarize several forms. Funds will be disbursed as quickly as possible after we received the completed closed loan package back in our office. On a loan involving real estate, transactions must close with a title company or attorney. Funds will be disbursed at closing.
Q. Can the mobile home be purchased through a Mobile Home Dealership (Retailer)?
A. Yes. All mobile home dealerships must be an approved vendor before applications can be accepted.
Q. How long does it take between loan application and closing?
A. Approximately four to six weeks for home-only loans and six to eight weeks for loans involving real estate.
Q. What closing fees are charged?
A. Fees for origination, credit bureau, title transfer, and appraisal can be charged if applicable. Other fees that can be charged, if applicable, include Title/Escrow/Attorney fees for closing the transaction. All closing costs can be financed into the loan if necessary except for the cost of appraisal (if applicable). Seller concessions are also acceptable up to the full amount of closing cost.
Q. What about the survey and termite letter?
A. 21st Mortgage does not require a survey or termite letter on the property unless the insurer is unable to provide title insurance without one. If the customer requests a survey or termite inspection, they must pay for it out of pocket. We will not finance the cost of a survey or termite inspection unless it is a requirement of the title company.
Q. Where do I send my payments to?
A. Making a payment is easy through our online site
or they can be mailed to:
21st Mortgage Processing Center
PO Box 148
Memphis, TN 38101