0vwCreditGuidelineshttps://www.21stmortgage.com/web/21stSite.nsf/

Your Manufactured Home Lending Source

Ready to start your application?

We'll need to know:

◻ Full name, date of birth, and current address
◻ Social Security number, tax identification number, or Matricula Consular de Alta Seguridad
◻ Income and employment information
◻ Home information (year, number of sections)
◻ Property address
◻ If in a community, community name and lot rent
◻ If purchase, loan purchase price and requested down payment
◻ If refinance, amount to borrow and estimate of home/property’s value
◻ If buying from a retail home center, retailer's name
◻ If buying from an individual or realtor, name (if available)


DUE TO VARIABLES IN PRICE AND SITE RENT, WE ARE NOT ABLE TO OFFER PRE-QUALIFICATIONS.
OUR MANUFACTURED HOME LOAN PROCESS IS QUICK AND EASY. APPLY TODAY.

Loan Programs

21st Mortgage Corporation is a full service lender specializing in manufactured home loans. We underwrite, originate, and service our own loans. That means there are no hassles with minimal wait times. We provide competitive rates for affordable housing, whether you're buying for the first time or looking for a better refinancing package.


21st Mortgage Loan Programs

Our manufactured and mobile home loan programs include:
• Fixed rates
• No pre-payment penalties
• No land required
• Financing for homes located within a Park or Community
• Financing for new and used manufactured homes
• Permanent or nonpermanent foundations
• Primary, Secondary, Investment, and “Buy-For” (purchase for someone else)
• Closing costs and most third party fees may be financed
• Used Manufactured Homes (person-to-person) type transactions must be ready for immediate occupancy. Move‐In Ready condition at permanent location required. No Rehab loans available or financing available for homes that have to be moved.
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Credit Guidelines FAQ

Q. Do you offer pre-qualifications?
A. Our loan application is very streamlined, but we do not offer pre-qualifications.

Q. Do you offer financing in my area?
A. We offer financing in 46 states. Only loans in AK, HI, MA, and RI are excluded. We also do not offer Land/Home loans in the following IL counties: Cook, Kane, Peoria, and Will.

Q. What are your minimum loan amounts?
A. For homes purchased from a Retailer or from an existing 21st Mortgage customer, we have a minimum loan amount of $15,000. For homes purchased from another individual or refinanced, the minimum loan amount is $23,000.

Q. What down payments are required?
A. Down payments as low as 0% are available for well qualified buyers. Typical down payment requirements range from 5% to 35% and are based on overall credit profile of the buyer, collateral type (home type, home placement, etc.), and occupancy type (i.e. primary residence, secondary home, etc.). Investment properties and “Buy-For” transactions require a minimum of 20% down payment. Down payments may be in the form of cash, trade, or land equity.

Q. What are your current interest rates?
A. Our rates typically range from 6% to 11.99% and are based on the overall credit profile of the buyer, age of the home, collateral type (i.e. home type, home placement, etc.), occupancy type (i.e. primary residence, secondary home, etc.), loan amount, and loan to value. Want more specifics? Check out our Payment Estimator!

Q. What are your maximum loan terms?
A. We offer terms up to 30 years on new and used Land Home loan products. Additionally, we offer terms up to 25 years on new and used Home Only loan products. Investment properties are limited to 10 year terms.

Q. Do you have a minimum credit score requirement?
A. We do not have a minimum credit score for most loan products. For applicants scoring less than 575 and for “zero credit score” buyers, we have “equity loan programs” available that may require higher down payments – usually a minimum of 35% in the form of cash, trade, or land equity.

Q. Do you have a maximum Debt-to-Income (DTI) ratio?
A. We do not have a maximum debt ratio on any 21st Mortgage portfolio loan. If your DTI is above 43%, there may be additional documentation requirements.

Q. Do you have restrictions on age of home?
A. In most states, we do not have any restrictions on the age of the home. In Alabama, the age of home is limited to 20 years. In Maine, the home must have a model year of 2008 or newer. In Mississippi, the home must have a model year of 1999 or newer. In New York, the home must have a model year of 1995 or newer.

Q. Do you offer refinance loans?
A. Yes. We offer competitive refinance options. Refinance of an existing 21st Mortgage loan requires a minimum of 5% down payment. “Consolidation / Cash-Out” options are available, but require a minimum credit score of 600. Consolidation / Cash-Out option is not available in TX.

Q. Do you finance bank owned foreclosures or repossessions?
A. We do offer financing for foreclosed or repossessed properties owned by 21st Mortgage. We do not offer financing for foreclosed or repossessed properties that are being purchased from another lender.

Q. Will you escrow property taxes and insurance for my loan?
A. For all 21st Mortgage loans, we escrow an amount each month to pay your annual property tax and insurance obligations.

Q. Do you require Private Mortgage Insurance (PMI)?
A. No. We do not require PMI on any 21st Mortgage portfolio originated loan. This will save you thousands of dollars over the life of your loan.


Meeting the above guidelines does not guarantee approval.
State restrictions may apply.
* Rates and Credit Guidelines are subject to change without notice.

Financial Tools/Calculators


Still Budgeting?
Try our Payment Estimator to help guide your decision.
Create an amortization schedule for your loan using our
Amortization Calculator.
Estimate your monthly payment using our
Mortgage Calculator.
If I pay more each payment, how much interest can I save and how quickly can I pay off my loan?
Try the Extra Principal Calculator.
Wondering how much home you can afford?
Our Affordability Calculator can help.
To pay my loan off early and save interest, how much additional do I need to pay each month?
Find out with our Early Payoff Calculator.

Additional Frequently Asked Questions